Daijiworld Media Network – Mumbai

Mumbai, Nov 27: Benchmark indices extended their upward momentum in early trade on Thursday, with the Nifty breaching a fresh all-time high amid positive global cues and hopes of a US Federal Reserve rate cut.

The BSE Sensex rose 313.38 points to 85,922.89, while the NSE Nifty 50 climbed 90.25 points to touch 26,295.55, surpassing its previous record intra-day high of 26,277 hit on September 27, 2024.

Leading the gains on the Sensex were Bajaj Finance, Bajaj Finserv, ICICI Bank, Larsen & Toubro, Asian Paints, and Mahindra & Mahindra, while Eternal, Kotak Mahindra Bank, UltraTech Cement, and Maruti lagged in early trade.

Asian markets opened higher, with South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng all trading in positive territory. US markets ended higher on Wednesday, boosting global sentiment.

Foreign Institutional Investors (FIIs) were net buyers of equities worth ?4,778.03 crore on Wednesday, while Domestic Institutional Investors (DIIs) purchased stocks worth ?6,247.93 crore, supporting the domestic rally.

Global factors driving optimism include expectations of an interest rate cut by the US Fed and hopes for a Russia-Ukraine peace accord. Brent crude dipped 0.48 per cent to USD 62.83 per barrel, further easing market concerns.

“Global equity markets have extended their gains on growing expectations of Fed rate cuts. Major US indices — including the S&P 500, Dow Jones, and Nasdaq — posted solid advances, aided by softer Treasury yields and renewed policy optimism,” said Ponmudi R, CEO of Enrich Money.

On Wednesday, the Sensex had surged 1,022.50 points to close at 85,609.51, while the Nifty gained 320.50 points to settle at 26,205.30, reflecting strong domestic and global investor confidence.