Global rally, DII buying: Reasons why BSE Sensex jumped 1,000 pts on Aug 16

Quick Summary:

Hopes of US rate cut triggers global stock market rally: The BSE Sensex rallies past the 80,000 mark, and the NSE Nifty surges atop 24,400 led by strong gains in IT and private bank shares on Friday.

TCS, Infosys and Reliance Industries were the other key contributors as these stocks gained in the range of 1-2 per cent each.

In the broader market, the BSE MidCap and SmallCap indices also surged over 1 per cent each.

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Category: BusinessFinance

Markets: IndiaJapanTaiwan

Topics: Us fed rate cut Sensex Nifty Nasdaq 000 Sensex 80 Stock market update Global markets rally Dow jones Stock market rally It stocks rally

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-16 @ 13:38:12 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 827 words

Reading Time: 5 minutes read

Sentences: 37 lines

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Copyright Owner: © Business Standard

News ID: 22097012

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