Indian stock markets finally found a breath of relief after witnessing a severe decline in the first three trading sessions of the current week. On Thursday, Sensex and Nifty50 gained points instead of losing after three days. After the US Federal Reserve's announcement of interest rate cuts, the graphs of the country's two benchmark indices finally turned green.
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On Thursday, Sensex rose by 0.50% or 427 points from the last closing. As a result, the Bombay Stock Exchange's main index reached 84,818 points. Nifty50 gained 0.55%, reaching 140 points on the day. Due to this increase, the National Stock Exchange's main index finally reached 25,898 points. As a result of this growth, the market capitalisation of companies listed on the Bombay Stock Exchange increased by ₹2.6 lakh crore.
Along with Sensex and Nifty50, mid-cap and small-cap indices on both exchanges also gained points. The mid-cap and small-cap indices on the Bombay Stock Exchange rose 0.79% and 0.51% respectively. Additionally, most sectoral indices also performed well. In Nifty, all sectoral indices except oil, gas and media recorded growth in Thursday's trading session.
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Market analysts from various organisations believe that the recent announcement by the US Federal Reserve played a major role in Thursday's stock market growth. Fed Chairperson Jerome Powell announced a 25 basis point cut in interest rates. He has even indicated another rate reduction in the next year as well. As a result, experts believe that the decline in the rupee's value against the dollar will slow down. Along with this, hopes have increased for a reduction in the tendency of foreign investment to move away from the country's market. Due to this, experts believe that positive vibes have returned to Dalal Street from the pit of decline.
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