Brief by Shorts91 Newsdesk / 10:25am on 12 Sep 2024,Thursday Business
The Indian stock market witnessed a significant surge, with the Sensex and Nifty indices rising by 1,439.55 points and 470.45 points respectively. This added Rs 5.14 lakh crore to the market capitalization of BSE-listed companies, reaching Rs 465.9 lakh crore. The rally was driven by global market gains and expectations of increased foreign investment in domestic stocks. The US inflation data release also boosted anticipation of a 25 basis point rate cut by the Federal Reserve, with the probability increasing to 85%. The market's sudden jump has boosted investor confidence.
