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Mumbai: Indian shares hit a record high boosted by heavy-weight banks and IT stocks in a volatile session. The Nifty 50 hit a record high of 25,337 points, while BSE Sensex also scaled an all-time high.<\/p>\n
The Nifty was last up 1.7%, while the Sensex gained 1.5%. The market capitalisation of all listed companies on BSE surged by \u20b96.6 lakh crore to \u20b9467.36 lakh crore.<\/p>\n
IT companies rose by 1% while Nifty Bank, Auto, Financial Services, Healthcare, and Oil & Gas sectors all saw gains of over 1%. Bharti Airtel, Reliance Industries, HDFC Bank and Infosys together added almost 500 points to the Sensex rally. L&T, M&M, NTPC, ICICI Bank, and SBI were also significant contributors to the surge in the index.<\/p>\n
This comes as US consumer prices in August showed a slight increase, with core inflation rising by 0.28%, surpassing the expected 0.2%. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, \u201cLatest US inflation numbers are mildly positive for markets. August CPI inflation coming at 0.2% has brought down the 12-month inflation to 2.5% from 2.9% earlier. This paves the way for a rate cut by the Fed in September. But since core inflation continues to remain high at 3.2% the Fed is likely to be cautious and refrain from a 50bp rate cut, finally settling for a 25bp rate cut.\u201d<\/p>\n
Meanwhile, oil prices dropped over 10% in September due to weak Chinese demand and concerns about global oversupply.<\/p>\n<\/p><\/div>\n
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[ad_1] \u00a0 Mumbai: Indian shares hit a record high boosted by heavy-weight banks and IT stocks in a volatile session. The Nifty 50 hit a record high of 25,337 points, while BSE Sensex also scaled an all-time high. The Nifty was last up 1.7%, while the Sensex gained 1.5%. The market capitalisation of all listed […]<\/p>\n","protected":false},"author":1,"featured_media":44582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-44581","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"jetpack_featured_media_url":"https:\/\/thenftimes.com\/wp-content\/uploads\/2024\/09\/Sensex-Nifty-at-record-high-Investors-earn-nearly-Rs-7-lakh-crore-today.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/44581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/comments?post=44581"}],"version-history":[{"count":1,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/44581\/revisions"}],"predecessor-version":[{"id":44583,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/44581\/revisions\/44583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media\/44582"}],"wp:attachment":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media?parent=44581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/categories?post=44581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/tags?post=44581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}