{"id":44347,"date":"2024-03-01T10:24:44","date_gmt":"2024-03-01T10:24:44","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/03\/01\/sensex-nifty-surge-to-record-highs-on-optimism-over-fed-rate-cuts\/"},"modified":"2024-03-01T10:24:44","modified_gmt":"2024-03-01T10:24:44","slug":"sensex-nifty-surge-to-record-highs-on-optimism-over-fed-rate-cuts","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/03\/01\/sensex-nifty-surge-to-record-highs-on-optimism-over-fed-rate-cuts\/","title":{"rendered":"Sensex, Nifty Surge To Record Highs On Optimism Over Fed Rate Cuts"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Indian shares rallied on Friday to hit record highs, buoyed by positive global cues and upbeat Q3 GDP data.<\/p>\n<p>Data showed the Indian <span class=\"landLinks\">economy<\/span> grew by a robust 8.4 percent in the third quarter of FY24, surpassing analysts&#8217; expectations. <\/p>\n<p>The numbers for Q1 and Q2 FY24 have also been revised upwards.<\/p>\n<p>Positive cues from global <span class=\"landLinks\">markets<\/span> also boosted sentiment after a key U.S. inflation metric closely watched by the Federal Reserve increased at the slowest rate in nearly three years, and data from Germany, France and Spain showed progress on disinflation.<\/p>\n<p>Investors now bet on both the U.S. Federal Reserve and the European Central Bank lowering borrowing costs in June.<\/p>\n<p>The benchmark S&amp;P\/BSE Sensex jumped 1,245.05 points, or 1.72 percent, to 73,745.35 while the broader NSE Nifty index settled 355.95 points, or 1.62 percent, higher at 22,338.75.<\/p>\n<p>Metal stocks topped the gainers list as China&#8217;s February PMI data beat estimates. Tata Steel soared 6.9 percent and JSW Steel surged 4.43 percent. <\/p>\n<p>Among other prominent gainers, IndusInd Bank, Titan Company and Larsen &amp; Toubro rallied 3-4 percent.<\/p>\n<p>Pharma, IT and FMCG stocks led losses. Dr Reddy&#8217;s Laboratories lost 3.7 percent after reports of a potential antitrust lawsuit in the United States. <\/p>\n<p>Britannia Industries, Sun Pharma, HCL Technologies and Infosys all fell around 1 percent. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Sensex, Nifty Surge To Record Highs On Optimism Over Fed Rate Cuts<\/a><br \/>\n<br \/>2024-03-01 10:24:44<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian shares rallied on Friday to hit record highs, buoyed by positive global cues and upbeat Q3 GDP data. Data showed the Indian economy grew by a robust 8.4 percent&#8230;<\/p>\n","protected":false},"author":2,"featured_media":44348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1535139262971-c51845709a48?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=1950&q=80","fifu_image_alt":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-44347","post","type-post","status-publish","format-standard","has-post-thumbnail","category-asian-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/44347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=44347"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/44347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/44348"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=44347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=44347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=44347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}