Thu Sep 12 01:23:50 UTC 2024: ## Indian Stock Market Sees Strong Gains on September 12, 2024, Led by Positive Global Sentiment and Domestic News

**Mumbai, India:** The Indian stock market witnessed significant gains on September 12, 2024, fueled by positive global market sentiment and a slew of positive domestic news. The benchmark Sensex climbed 1009.97 points or 1.24% to close at 82,533.13, while the Nifty 50 rose 337.65 points or 1.36% to end at 25,256.10.

The gains were largely attributed to optimistic expectations of a 25 basis point Federal Reserve rate cut after the US inflation data came in below expectations. The GIFT Nifty, a gauge of the Nifty 50 futures traded on the Gujarat International Finance Tec-City, was up 100 points, signaling a strong opening for the Indian market on Thursday.

Several positive developments in the domestic market also contributed to the strong showing. The Indian government announced a renewed EV subsidy scheme with an outlay of Rs 10,900 crore, aimed at boosting the electric vehicle sector. Additionally, the government unveiled plans to launch the second phase of its semiconductor manufacturing policy in the next three to four months, further bolstering the country’s technological advancement.

Several individual stocks also saw significant gains. Bharti Airtel rose 4.53% on the NSE, Hindalco gained 4.38%, and NTPC climbed 3.98%. These gains were fueled by positive company-specific news, including new product launches, increased production, and successful acquisitions.

However, not all sectors were in the green. Some companies saw losses attributed to factors like profit-taking, market share loss, and slowing demand.

Overall, the Indian stock market showcased a strong performance on September 12, 2024, driven by a positive global sentiment and a range of positive domestic news. The market remains optimistic about future growth, with several key events on the horizon, including the ECB monetary policy announcement and India’s August CPI release.

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