Indian Stock Market Soars on Fed Rate Cut, Foreign Inflows

📆 23/09/2024 2:45:00
📰 Investingcom

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Indian Stock Market,Sensex,Nifty

India's stock market continues its rally fueled by the U.S. Federal Reserve's rate cut and expectations of policy continuity post-elections. Foreign portfolio inflows are surging, pushing valuations to record highs among emerging markets.

The Nifty and Sensex have gained 18.7% and 17% respectively in 2024, securing the third and fourth spots among major global bourses.Earlier this week, India's weightage in a key MSCI index topped China for the first time.

Foreign portfolio inflows, which had moderated in August, are on course for to hit a six-month high in September. Realty, autos, public sector enterprises, pharma and energy are among the top performing sectoral indices so far this year.Domestic institutional investors picked up shares worth a net of 3.23 trillion rupees since the start of the year, according to provisional data from National Stock Exchange.

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