Markets ended on a high note today. The Sensex jumped 443 points to close at 81,442, and Nifty rose 131 points to end at 24,750 — after briefly flirting with the 24,900 mark during the day.
What’s driving the rally?
– Pharma and Reliance Industries led the charge, while Nifty Realty and Pharma gained the most—up 1.75% and 1.3% respectively. IT and Metal followed with modest gains.
– Broader markets were upbeat too—Smallcaps up 1%, Midcaps up 0.7%.
– Rs 2.4 lakh crore was added to investor wealth today, pushing BSE’s market cap to Rs 447.61 lakh crore.
Now the global push:
A weaker U.S. dollar and falling Treasury yields helped boost sentiment. The 10-year U.S. yield fell to 4.355%, raising hopes of a rate cut by the Fed. That’s great news for emerging markets like India.
Back home: All eyes are on the RBI’s policy meeting tomorrow. Markets are betting on a 25 bps rate cut—that would make it the third cut in a row, a big boost for liquidity and growth.
FIIs are back in buying mode, pumping in over Rs 1,000 crore, while DIIs continued their buying streak, investing over Rs 2,500 crore.
And finally, crude oil prices dipped—Brent at $64.85—thanks to weak U.S. demand data and Saudi price cuts.
A softer dollar, falling yields, rate cut hopes, and foreign inflows—India’s market bulls have plenty to cheer!
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