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Stocks At New Highs As Fed Signals Three Cuts In 2024
Mint Mumbai
|December 15, 2023
Technology stocks lead rally; FPI net inflows touch 39,260 crore in December
India's benchmark stock indices rallied to fresh highs on Thursday after the US Federal Reserve brought the curtains down on interest rate hikes and indicated the possibility of three rate cuts in 2024.
BSE's 30-stock Sensex jumped 929.60 points or 1.34% to close at 70,514.2 points. Though the index had crossed the 70,000 mark during Monday's trading, this was the first time it ended the session above the milestone figure. The National Stock Exchange's (NSE's) Nifty 50 index rose 1.23% or 256.35 points to close at an all-time high of 21,182.7, after touching an intra-day peak of 21,210.9.
IT companies were the top gainers, led by Infosys, Tech Mahindra and LTI Mindtree, all of which ended the session with gains of over 3.5% each.
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