Sensex surges 676 points on expectations of rate cuts
![](https://portfolio.investmentguruindia.com/uploads/news/Stock bull.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Indian equity benchmarks surged on Thursday following expectations of rate cuts.
At closing, Sensex was up 676 points or 0.93 per cent, at 73,663 points and Nifty was up 203 points or 0.92 per cent, at 22,403 points.
Among sectors indices, IT, Auto, FMCG, Pharma, Metal, Reality, Media and Fin service were the top gainers
Nifty PSU Bank is the only index that closed in the red and was down by 0.88 per cent.
The India Volatility Index (India VIX) was down by 1.38 per cent, at 19.99 points.
M&M, Bharti Airtel, Infosys, Tech Mahindra and Titan were top gainers. Maruti Suzuki, Tata Motors, Power Grid and SBI were the top losers.
Global markets remained bullish. Most of the Asian markets closed in the green. US markets closed higher in Wednesday's session due to lower-than-expected inflation.
According to market experts, "The domestic market experienced a late surge, driven by strong global trends that pointed to lower-than-expected US consumer inflation figures, which suggests at least two interest rate cuts in 2024."
"Further, buoyancy in the broader market continues with exports increasing despite global economic uncertainties, leading the heavyweights’ sectors such as banking, IT, and industrials to outperform," the market experts added.
![](https://portfolio.investmentguruindia.com/uploads/news/nitingadkari37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v68_wcHr0zT.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IT Sector03.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bharti Airtel Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar21.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Stock bull.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dixon technologies Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/BHARTI HEXACOM.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Gv_India.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Apollo Tyres Ltd.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Stock bull.jpg)
Sensex touches 80,000 for first time, Nifty at all-time high
![Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![Daily Market Analysis : Markets edged higher, gaining over half a percent, driven by favorable cues Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Quote on Kotak Mutual Funds for Sensex at 80000 by Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd.jpg)