FX.co ★ Sensex Nears Record, Nifty Hits Fresh Record Peak

The BSE Sensex experienced an increase of 227 points, or 0.4%, reaching 85,909 and nearing an all-time high. Meanwhile, the Nifty 50 surged to 26,280, setting a new record during Thursday morning's trading session. This positive movement mirrored an upswing on Wall Street the previous night, fueled by speculation of a potential interest rate cut by the Federal Reserve next month. Anticipations that the Reserve Bank of India might similarly ease its monetary policy during its December meeting also bolstered investor confidence, especially amid declining inflation and a strong growth forecast which anticipates a GDP growth of 7.3% for the September quarter. Additionally, foreign capital inflows and a decrease in oil prices further enhanced market sentiment, as India, the world’s third-largest oil importer, stands to gain from reduced crude prices. The broader market sustained its upward trajectory from the prior session, primarily driven by financial services, technology, and banking sectors. Notable performers included Bajaj Finance, which rose by 2.2%, Bajaj Finserv by 1.4%, HDFC Bank by 1.2%, Larsen & Toubro by 1.0%, and ICICI Bank by 1.0%.