Stock market today: Sensex jumps over 700 points, Nifty 50 ends above 19,600
The US 10-treasury notes fell 15 basis points to 4.5% indicating lowest in seven weeks, according to Trading Economics data
Domestic equity benchmark indices end in green on Wednesday's session amid positive global cues, and after lower US inflation data increased expectations of an end to the rate-hiking cycle in the largest economy in the world.
The US 10-treasury notes fell 15 basis points to 4.5% indicating lowest in seven weeks, according to Trading Economics data. According to analysts, softening of US core macro economic data would lead to pressure in bond yields and eventually we would see lower selling pressure from Foreign institutional investor (FII’s) in the domestic markets.
Easing macro economic data would also cool down FED and look for rate cuts on it before March 2024.
The 30-share BSE Sensex ended higher by 742.06 points or 1.14% at 65,675.93 level while the Nifty 50 closed at 19,675.45 level, up 231.90 points or 1.19%.
The broader market was at par with the benchmark indices, the Nifty Midcap 100 closed 0.91% higher and Nifty Smallcap ended 1.27% higher.
With Nifty IT, Nifty Realty, and Nifty Auto leading the way, all sectoral indices finished in the green.
Sensex today opened higher at 65,461 and went on to hit intraday high of 65,601 levels, registering intraday gain of 668 points within few hours of stock market's opening bell today.