Sensex hits record high at opening, Nifty surpasses 23,500
PTC News Desk: Indian stocks opened higher alongside global equities, with benchmark indices setting new records as weak US retail sales data bolstered predictions of an early rate decrease by the Federal Reserve.
The S&P BSE Sensex gained 0.31% to 77,543.22, while the NSE Nifty 50 increased by 0.31% to 23,629.85. Out of the thirteen key sectors, twelve saw gains. Of the Nifty 50 firms, 46 made progress.
Additionally, small- and mid-cap stocks increased to record high levels by 0.5% and 0.35%, respectively. As U.S. retail sales data was less positive than anticipated, Wall Street stocks closed higher overnight, with the S&P 500 and Nasdaq Composite ending at all-time highs.
This indicated that inflation was slowing down. Expectations for September rate cuts were slightly raised as a result of the report, rising from 56.7% to 61.1%.
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- With inputs from agencies
