Stock market today: Sensex surges over 900 points, Nifty 50 settles above 21,100 led by IT, realty stocks

Stock market today: The domestic benchmark indices, the Sensex and the Nifty 50, ended higher on Thursday's trading session and touched new all-time highs after the global rally that swept across regional markets after the US Federal Reserve signalled the end of its tightening cycle and raised expectations of a rate cut in March 2024.

The 30-share BSE Sensex ended higher by 929.60 points or 1.34% at 70,514.20 level while the Nifty 50 closed at 21,182.70 level, up 256.35 points or 1.23%. Sensex surpassed the 70,600 mark in intraday trading, while Nifty 50 crossed the 21,200 mark.

On the broader market front, the Nifty Midcap 100 touched record high level, and surpassed 45,500 level, and closed up 1.27% at 45,516.55 level, and the Nifty Smallcap 100 ended 0.81% higher.

As per the AFP news report, the US Federal Reserve's announcement that it will start reducing interest rates next year led to a rally in Asian markets on Thursday, while the dollar continued its downward trend.

The surge in the region coincided with a record-breaking day on Wall Street, as traders celebrated the central bank's much-anticipated dovish turn as inflation declines.

The Shanghai Composite index fell 0.33% to 2,958.99, while the Hang Seng in Hong Kong rose 1.07% to 16,402.19. The Kospi of South Korea rose 1.34% to 2,544.18. In Australia, the S&P/ASX 200 was up 1.65% at 7,377.90. Bangkok's SET rose 1.54% while Taiwan's Taiex dropped by 0.66%.