Thu Sep 12 10:06:00 UTC 2024: ## Indian Stock Markets Soar to Record Highs on US Inflation Data and Foreign Investment
**Mumbai, September 12:** The Indian stock market experienced a remarkable surge on Thursday, driven by a combination of positive global factors and strong domestic performance. Both the benchmark indices, BSE Sensex and Nifty 50, closed at all-time highs, marking a significant milestone for the Indian economy.
The 30-share BSE Sensex gained over 1,600 points, breaching the 83,000 mark for the first time ever and reaching a new peak of 83,116.19. Meanwhile, the broader Nifty 50 index also hit a record high of 25,433.35 points after rising over 500 points, marking its second record high this month.
This bullish trend was attributed to several factors, including the recent slowdown in US inflation and the influx of foreign investment into the Indian market. Data released on Wednesday showed that US consumer inflation had eased more than expected in August, leading to increased optimism about a possible interest rate cut by the Federal Reserve. This boost in confidence resonated across global markets, including India.
The Indian indices were further supported by strong performance from heavy-weight banks and IT stocks. Among the Sensex gainers were Bharti Airtel, NTPC, JSW Steel, Mahindra & Mahindra, Adani Ports, Tech Mahindra, Larsen & Toubro, Tata Steel, State Bank of India and Kotak Mahindra Bank. Similarly, the Nifty 50 witnessed strong gains from Hindalco, Bharti Airtel, NTPC, Shriram Finance, and Grasim Industries.
The positive sentiment across the markets has instilled confidence among investors, signaling a healthy outlook for the Indian economy. This record-breaking performance is a testament to the growing strength of the Indian stock market and its resilience in the face of global economic uncertainties.
First Piper 