Brief by Shorts91 Newsdesk / 04:43am on 30 Aug 2024,Friday Business
Indian shares hit record highs on Friday, with the NSE Nifty 50 reaching 25,257 and the S&P BSE Sensex climbing to 82,637, both marking all-time peaks. The surge was supported by strong regional market performance and positive U.S. economic data that eased growth concerns. The Nifty index extended its winning streak to 11 sessions, the longest in nearly 17 years, fueled by expectations of a U.S. interest rate cut in September. Domestic institutional investors (DII) bought $6.14 billion worth of shares in August, offsetting foreign portfolio investor outflows. Asian markets also gained, with MSCI's broadest Asia-Pacific index rising 0.7% following Wall Street's rally.
