Brief by Shorts91 Newsdesk / 10:08am on 05 Dec 2024,Thursday Business
The Sensex soared 1,000+ points to 81,937.20, with Nifty50 nearing 24,800 on Thursday afternoon, reflecting robust market optimism. Wall Street gains, fueled by US Federal Reserve Chair Jerome Powell's positive economic remarks, boosted global sentiment. Foreign Institutional Investors contributed ₹1,798 crore to Indian markets, spurring large-cap stocks. Anticipation of RBI's dovish policy stance further lifted investor confidence, with PSU banks and IT stocks leading the rally. Analysts, however, caution against overstretched valuations. Sustained FII inflows and stable macroeconomic conditions could propel further gains. Investors await the RBI's policy decision and key US economic data for future cues.
