By: The Trek News Desk
Indian equity markets surged on Thursday, with both the Nifty and Sensex climbing to fresh all-time highs. The upbeat run was supported by expectations of interest rate cuts in the US and India, stability in the rupee, and optimism about stronger corporate earnings in the latter half of the fiscal year.
Markets Break Previous Records
The 30-stock BSE Sensex opened at 85,745.05 and quickly gained momentum, touching a record 86,026.18, about 0.2% higher than the previous close of 85,609.51.
The Nifty50 also saw strong early trade, opening at 26,261.25 and rising to a new historic level of 26,306.95.
Earlier, on September 27, 2024, the Nifty had set its previous high at 26,205.30, while the Sensex had hit 85,978.25.
Global Markets Provide Tailwind
Asian markets traded higher on Thursday, supported by growing speculation that the US Federal Reserve may soon cut interest rates.
Reports indicated that the US dollar weakened on these expectations, while traders kept a close eye on the Japanese yen amid rising chances of a rate hike in Japan before the year ends.
Broad-Based Gains Across Sectors
All major sectoral indices were performing in the green, signalling strong market breadth:
- Nifty Auto: +0.24%
- Nifty Financial Services 25/50: +0.38%
Top Gainers on the NSE
Several prominent stocks led the rally, including:
- Bajaj Finance: +2.26%
- Bajaj Finserv: +1.23%
- Shriram Finance: +1.20%
- Asian Paints: +1.11%
