Wed Jan 29 15:22:22 IST 2025: ## Indian Stock Market Soars on Fed Rate Decision Anticipation and Budget Hopes

**Mumbai, India** – Indian stock markets surged for a second consecutive day on Wednesday, fueled by optimism ahead of the US Federal Reserve’s interest rate decision and the upcoming Union Budget. The benchmark Sensex index climbed over 500 points to close at 76,431.97, while the Nifty index gained 166.85 points, reaching 23,124.10. This rally boosted the overall market capitalization by a significant Rs 6.13 lakh crore (approximately $74 billion USD).

The gains were largely driven by strong performances in the IT and financial sectors. Analysts attribute the rise to several factors, including anticipation of a potential rate cut by the Reserve Bank of India (RBI), speculation surrounding the Fed’s actions, and a “buying the dip” strategy among investors. Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the rally in IT and auto stocks as key contributors to the positive market sentiment. The market’s positive trajectory reflects investor confidence despite global economic uncertainties.

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