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Cheer for Dalal Street: Sensex, Nifty soar higher as US Fed signals interest rate cuts for next year
6548 views | Dec 14, 2023, 10:33:32 AM | TOI.in
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Indian stocks climbed to new highs as the US Federal Reserve signalled its intent to cut benchmark rates next year. While holding rates steady at all-time highs of 5.25% to 5.5%, the US Fed indicated that it is looking forward to at least two rate cuts next year. This move powered a 700-point rally in the Sensex, pushing it up by about a percent. Market cap of listed companies on BSE soared by Rs 3 lakh crore to Rs 354.19 lakh crore due to the upward move.
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