Indian Stock Market Soars on Fed Rate Cut, Foreign Inflows

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Indian Stock Market Soars on Fed Rate Cut, Foreign Inflows
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.

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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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