Indian Stock Markets Soar to Record Highs Amid Global Rally

Indian stock markets opened at new highs on Friday, with Nifty 50 nearing its 52-week high and Sensex surpassing 83,000 for the first time. The rise mirrors global trends and strong investor confidence ahead of anticipated Fed rate cuts.

Indian stock markets opened at new highs on Friday, continuing their bullish run. The Nifty 50 index came close to its 52-week peak, while the Sensex surpassed the 83,000 mark for the first time ever. Specifically, the Nifty 50 opened at 25,430.45, gaining 41.55 points or 0.16 percent. Meanwhile, the BSE Sensex opened at 83,091.55 points, up by 128.84 points or 0.16 percent.

Global markets are rallying ahead of anticipated Fed rate cuts, and the Indian indices are reflecting strong investor confidence. 'The focus is totally on the Fed action and the Fed's statement on Sep 18th,' said Ajay Bagga, a banking and market expert. He added that the market's current momentum is indicative of inflows due to the weakening US dollar amid expected Fed rate cuts. 'Some minor risk-off is possible early next week, but overall, there is a shift from cautious optimism to ardent optimism,' Bagga noted.

In sectoral indices on the National Stock Exchange, Nifty Media led the gains, followed by Nifty Metal and Nifty PSU Bank. Asian markets showed mixed movements, with Japan's Nikkei index falling 0.89 percent and South Korea's KOSPI remaining flat. Conversely, Hong Kong's stock index surged 1.16 percent, and Taiwan's Taiwan Weighted index gained 0.14 percent.

On Thursday, U.S. markets marked their fourth consecutive session of gains, with the S&P index rising 0.75 percent and the Nasdaq soaring 1 percent. European markets also closed with positive gains following the EU's announcement of a 25 basis points rate cut. Germany's DAX surged 1.02 percent, France's CAC gained 0.51 percent, while the UK's FTSE index rose 0.57 percent.

Indian stock markets hit record highs on Thursday, fueled by broad-based buying across sectors. The Sensex skyrocketed by 1,439.55 points to close at 82,962.71, while the Nifty surged 395.40 points to end at 25,313.85 points, reflecting robust investor confidence and strong market sentiment.

(With inputs from agencies.)