Mumbai: The two flagship indices kept climbing, with both the Sensex and Nifty reaching new all‑time highs. Investors stayed buoyant as expectations for interest‑rate cuts in the US and India intensified, while foreign buyers stepped in steadily to back the rally across sectors.
The Nifty surged to 26,306.95, overtaking its previous record of 26,277.35 set on September 27, 2024. The Sensex surpassed the 86,000 line for the first time, closing at 86,026.18. Leading the gains were Bajaj Finance, Shriram Finance, Asian Paints, Bajaj Finserv and Larsen & Toubro, each lifting around 2 percent and giving the market a solid lift.
Foreign portfolio investors maintained the buying momentum, becoming net buyers for a second straight session. They pumped ₹4,778.03 crore into Indian equities on Thursday, a sharp increase from ₹785.32 crore that flowed in on Wednesday, which helped keep domestic markets resilient.
Positive sentiment was further buoyed by the growing belief that the US Federal Reserve might trim rates in December. The Nifty had already enjoyed its best trading day in five months on Wednesday, finishing at a 14‑month high as rate‑sensitive sectors rallied ahead of the Reserve Bank of India’s upcoming policy meeting.
Asian markets were also on the rise, reflecting broader global optimism. Traders heightened their bets on a U.S. rate cut next month, with the CME FedWatch tool showing the probability jump to roughly 85 percent from just 30 percent a week earlier. Major indexes—including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng—were all in positive territory. U.S. stocks also closed higher on Wednesday, adding to the worldwide upbeat mood.
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