Sensex and Nifty Surge Amid Global Optimism

Sensex and Nifty indices climbed due to a rally in global markets and anticipation of a US Federal Reserve rate cut. Major gains were observed in power, utilities, and energy sectors. Optimism around India-US trade talks further boosted investor sentiment. FIIs were net buyers, enhancing market positivity.

On Wednesday, Indian stock market indices, Sensex and Nifty, concluded trading sessions with noticeable gains, influenced by a positive trend in global markets. Investor confidence was buoyed by expectations of a US Federal Reserve rate cut and substantial foreign fund inflows.

The 30-share BSE Sensex rose by 368.97 points, or 0.44%, closing at 84,997.13, marking a daily increase of up to 477.67 points or 0.56%. Meanwhile, the NSE Nifty ascended 117.70 points or 0.45% to settle at 26,053.90.

Investor sentiment was lifted by optimism surrounding global trade developments and potential progress in India-US trade negotiations. Foreign Institutional Investors (FIIs) purchased equities worth Rs 10,339.80 crore, supporting a market rally. However, the upcoming Federal Reserve decision remains crucial as it could dictate future market movements.

(With inputs from agencies.)