Fed’s Rate Cut Hopes Fuel Indian Stock Market Rally

The Indian stock market continued its rally on hopes that the US Federal Reserve will soon begin cutting interest rates. The benchmark Sensex index gained over 600 points to close at 81,698.11, while the Nifty index rose by 187.45 points to end at 25,010.60. Strong buying was witnessed in metals, IT, and consumer durables sectors. The inflow of foreign funds into the market and buying in blue-chip stocks like HDFC Bank and Reliance Industries further bolstered market sentiment. Interark Building Products, a company that supplies construction materials, saw its shares surge by 34% on its listing day, closing at Rs. 1,196.45.