Indian Stock Indices Reach Record Highs; US Markets Close on a Positive Note

Indian Stock Indices Reach Record Highs; US Markets Close on a Positive Note

VoM News Desk | December 15, 2023 | 12:23 PM IST | Breaking News | Follow on Google News

Indian Stock Indices Reach Record Highs; US Markets Close on a Positive Note

Indian Stock Indices Reach Record Highs; US Markets Close on a Positive Note

India’s primary stock indices, Sensex and Nifty, surged to unprecedented peaks on Friday. The Sensex touched 71,000 while the Nifty surpassed 21,300, primarily driven by robust gains in IT and metal stocks. The Nifty IT index soared by 4%, buoyed by notable performances from companies like TCS, Infy, and HCL Tech. The market’s upward trend is expected to persist, largely influenced by the Federal Reserve’s dovish approach, hinting at potential rate cuts in 2024. Additionally, a decline in US bond yields, India’s upgraded GDP forecast, and lower global oil prices contribute to the optimistic market sentiment.

Across Asian markets, trading remains positive, taking cues from the overnight gains on Wall Street. Japan’s Nikkei 225 and South Korea’s Kospi experienced moderate upticks. Australian shares reached a four-month high, boosted by robust job data and the Federal Reserve’s outlook on rate cuts for the upcoming year.

In the United States, stock markets closed on a positive note. The Dow Jones Industrial Average marked consecutive record closing highs, driven by the Federal Reserve’s dovish stance signaling potential reductions in borrowing rates in the coming year. This optimistic outlook has contributed to the positive sentiment among investors, propelling the market to new heights.

Indian Stock Indices Reach Record Highs; US Markets Close on a Positive Note

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.