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Market Recovers As Rate Cut Prospect Improves; Sensex, Nifty Gain Over 1%
The New Indian Express
|May 17, 2024
DOMESTIC equity market made a swift recovery from last week's aggressive sell-off which was triggered by concerns related to the outcome of 2024 General Elections.
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The local benchmark indices - BSE Sensex and NSE Nifty-extended this week's gain and ended higher by nearly 1% each on Thursday, all thanks to robust buying across sectors during fag-end of the session.
Experts say the buying was driven by strong global trends as lower-than-expected US consumer inflation figures have again triggered chances of at least two interest rate cuts by the US Federal Reserve in 2024.
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