Sensex rallies over 500 points today, up over 7% in December so far

The domestic market is experiencing a surge of optimism as the Sensex and the Nifty, key equity benchmarks, have remained consistently in positive territory over the past four trading sessions.

Both the indices have gained over 7 per cent in December so far, following a substantial 5 per cent gain in the preceding month.

As of December 26 closing, Sensex has gained 17.3 per cent while the Nifty 50 has jumped 18.4 per cent this year.

The recent surge in the market could be attributed to healthy domestic macro numbers, cooling inflation in the US which boosted the hopes of rate cuts, sustained fall in the US bond yields and dollar and buying by foreign portfolio investors (FPIs).

On Wednesday, December 27, the Sensex jumped over 500 points while the Nifty 50 hit its fresh record high of 21,603.40 during the session.

The Sensex hit its all-time high of 71,913.07 on December 20.

The overall market capitalisation of the BSE-listed firms is now near ₹361.3 lakh crore.