Indian shares continue to scale new peaks after U.S. rate cut
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 23 2024
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Source: Reuters
Indian Stock Market Performance: Indian shares reached record highs for the third consecutive session, with the Nifty 50 index rising 0.57% and the S&P BSE Sensex gaining 0.45%, driven by increased investor confidence following a significant U.S. rate cut.
Sector Gains and Investor Sentiment: Most sectors advanced, particularly public sector banks and oil stocks, while foreign institutional investors purchased substantial amounts of Indian shares, indicating strong long-term investment potential in India despite elevated valuations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
