Sensex, Nifty surge on rally in US markets, foreign fund inflows

Stock market benchmark indices Sensex and Nifty surged nearly 1 per cent on Monday amid renewed hopes that the US Federal Reserve will start cutting interest rates soon.
Market participants reflected optimism after US Federal Reserve Chairman Jerome Powell’s speech indicated possible rate cuts next month.
The 30-share BSE Sensex jumped 611 points to close at 81,698; while the NSE Nifty advanced 187 points to settle at 25,010.
From the Sensex pack HCL Tech, NTPC, Bajaj Finserv, Tech Mahindra and JSW Steel were the top gainers; while Adani Ports, Maruti Suzuki, Nestle India, Kotak Mahindra Bank and Sun Pharma were among the top losers.
All sectoral indices settled in the positive territory with IT, Metal, Realty and Oil & Gas leading the market momentum.
In Asian markets China's Shanghai Composite, Hong Kong’s Hang Seng and Indonesia's Jakarta Composite closed in green, while Japan's Nikkei and Seoul's Kospi ended in red.
European markets were trading on a mixed note ahead of the Euro zone key economic data due this week.
Wall Street settled with significant gains on Friday after US Federal Reserve Chairman Jerome Powell’s speech signalled potential rate cuts in September.
Foreign institutional investors were net buyers on Friday as they purchased equities worth over 1,944 crore rupees.
--
Follow us on:
Website: www.thehindubu...
Facebook: / thehindubusinessline
Twitter: / businessline
Instagram: / hindu_businessline
Spotify: open.spotify.c...
Whatsapp: whatsapp.com/c...
Telegram: t.me/HinduBusi...