Stock Market Updates: Sensex Gains 500 Points, Nifty Surges to 23,000.
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Summary: After the FED Decision, the Sensex opened at 500 points high, and the Nifty 50 crossed 23,000. Small and Mid-cap stocks struggle.
On Thursday, the Indian stock markets, Sensex and Nifty surged 500 and 23,000 respectively. Positive global cues and the latest update from the U.S. Federal Reserve drove them both. The large-cap stocks marched the rally, but the mid and small-cap stocks failed to stay in the green.
Investors welcomed the Fed's decision to leave interest rates steady, indicating a stable outlook for global markets. This bolstered the mood on Dalal Street, resulting in the robust buying of heavyweight companies in the banking, IT, and energy sectors.
The Sensex jumped 500 points, reflecting strong investor confidence. The Nifty 50 reclaimed the 23,000 points. Due to selling pressure the small and mid-cap stocks remained weak.
The top gainers were: Large-cap stocks, especially in the banking and IT sectors.
The top losers were: Small and midcap stocks that struggled due to profit booking and valuation concerns.
What’s Driving the Market?
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Positive global cues after the Fed’s decision
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The incoming stream of foreign funds boosts investor confidence
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The strong performance by IT & Banking sector.
Analysts anticipate the market will continue to fluctuate in the near future, although investor mood is now bullish. Investors are now looking for additional guidance from future economic data and company results.
