Local Markets Soar as Sensex and Nifty Hit New Record Highs with Banking Stocks Leading
Stock Market Live Updates: Sensex and Nifty Surge
Local markets opened flat on September 18 but swiftly surged to record highs as anticipation builds ahead of the US Federal Reserve's FOMC decision. The Sensex reached a new peak of 83,310.32, while the Nifty hit a milestone of 25,478.60.
Market Performance
As of 10:47 AM, the Sensex was trading up 225 points or 0.3 percent, whereas the Nifty increased by 52 points or 0.2 percent. Despite enthusiasm in the banking sector, IT stocks encountered notable declines.
Sector Performances
- Nifty Bank index is up significantly, with HDFC Bank, ICICI Bank, and SBI leading the charge.
- The Nifty IT index fell 3 percent due to losses from major players like Infosys and TCS.
Market analysis predicts the FOMC outcome will likely include a 25 basis point rate cut to alleviate the economic slowdown. Follow our live blog for updates.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.