Mkt rally makes investors richer by ₹6.5L cr

Optimism is fuelled by US inflation in August falling to three-year low of 2.5%, which sparked rate cut hopes

- ARSHAD KEAN

Following a dip in consumer inflation in the US and ratecut optimism across the globe, the bulls took firm control of the domestic equity market and pushed the benchmark indices to historic highs. The BSE Sensex on Thursday gained over 16,00 points intraday and crossed the 83,000 mark for the first time while the nifty 50 hit a record high of 25,433 points.

The nifty 50 gained 1.89% or 470.40 points to close the session at 25,388.90 while the BSE Sensex finished at 82,962 points, up 1.77% or 1,439.55 from the previous close. investors’ wealth surged over ₹6.5 lakh crore during the day as the total market capitalization of all BSE-listed companies reached a new high of ₹467.22 lakh crore.