The NSE Nifty 50 surged to a new all-time high of 25,114.05 on Wednesday, driven by extended gains in information technology (IT) stocks. The benchmark index rose as much as 0.38% from a flat start, buoyed by optimism around potential rate cuts by the U.S. Federal Reserve.
Key Highlights:
- Nifty 50 Performance: The index climbed to 25,114.05, trading up by 0.3% as of 12:07 p.m. IST. This record-breaking performance underscores strong investor sentiment, particularly in the IT sector.
- Sensex Movement: The S&P BSE Sensex also saw gains, rising 0.28% to 81,945.08, approaching record highs set on August 1.
Market Drivers:
- IT Sector Strength: The rally in IT stocks is a significant contributor to Nifty 50’s ascent, reflecting investor confidence in the sector amid global rate cut expectations.
- US Rate Cut Speculation: Traders are closely monitoring signals from the U.S. Federal Reserve, anticipating potential rate cuts that could positively impact global financial markets.
As the markets continue to digest economic data and Fed signals, the Nifty 50 and Sensex remain poised for further movements.
