The domestic equity market rebounded strongly from last week’s sell-off, driven by positive global cues and expectations of US Federal Reserve interest rate cuts. The BSE Sensex and NSE Nifty surged nearly 1% each, with robust buying observed across sectors towards the end of the session. Lower-than-expected US consumer inflation figures boosted investor sentiment, suggesting potential rate cuts by the Fed in 2024. Sensex closed at 73,663.72, up 0.93%, while Nifty settled at 22,403.85, rising 0.92%. Buoyancy in the broader market was supported by rising exports and expectations of fresh FPI flows due to new stocks added to the MSCI index.
Indian Equity Market Rebounds Amid Global Optimism
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