- Sensex and Nifty hit new record highs, driven by broad-based buying.
- US Fed rate cut sparks global market optimism, boosting risk appetite.
- LIC Mutual Fund launches Manufacturing Fund, focusing on industrial growth.
The Indian stock markets saw a strong rally today, with the Sensex and Nifty hitting record highs. Sensex surged over 900 points to touch 84,240, while the Nifty surpassed 25,650.
This broad-based buying across all sectors pushed the market capitalization of BSE-listed companies to Rs 469 lakh crore. Strong global market cues, particularly from the US, added to the investor confidence.
Global Optimism Fuels Sensex, Nifty Rally to Historic Highs
The rally was largely fueled by a wave of optimism following the US Federal Reserve’s rate cut of 50 basis points, signaling more potential cuts ahead. Asian markets followed suit, with Japan’s Nikkei 225 leading gains, driven by positive inflation data. Additionally, the launch of LIC Mutual Fund’s new Manufacturing Fund reflects the growing interest in India’s industrial sectors, offering a fresh investment avenue.
Global cues played a critical role in the market’s performance, particularly the US Federal Reserve’s recent 50 basis point rate cut. The move not only pushed US stocks to record highs but also triggered a wave of optimism across Asian and European markets. Japan’s Nikkei 225 performed well on the back of encouraging inflation figures, as investors anticipate stable interest rates from the Bank of Japan.
In the mutual funds space, LIC Mutual Fund launched its Manufacturing Fund, an open-ended equity scheme focused on the manufacturing sector. This is an attractive option for investors looking to tap into India’s industrial growth, aligning with the country’s focus on boosting domestic production and industrial output.
Meanwhile, European stocks took a slight dip, driven by a downward revision of Mercedes’ profit forecast. However, the STOXX 600 index remained on track for weekly gains, with Spain’s market showing slight resilience. Despite the dip, overall sentiment remains positive across the global market.
The rally in Indian markets signals strong investor confidence, driven by global optimism and domestic growth prospects. As markets continue to surge, opportunities like the LIC Manufacturing Fund provide fresh avenues for investors to diversify their portfolios.
“The recent US Fed rate cut has triggered a global market rally, with optimism spreading across Asia and Europe, further boosting risk appetite.”
