Sensex ends 1st time above 62k on hopes of Fed pivot

MUMBAI: The sensex and Nifty hit new highs on Thursday as equities, led by IT stocks, rallied sharply.
The sensex hit its all-time intraday high of 62,412 before ending at 62,273, gaining 762 points (1. 2%) over Wednesday’s close. This is the first time the sensex has closed above the 62k mark. The last all-time intraday sensex high of 62,245 was recorded on October 19, 2021. The Nifty also hit a 52-week high of 18,529 and ended at a fresh record level of 18,484. Bank Nifty index continued to set fresh highs and closed above 43k for the first time.
The stock market rally, which was part of a global surge, followed the release of the minutes of the US Fed’s meetings on Wednesday, which showed support for slower rate increases. Indian markets were also buoyed by news that Europe was considering a higherthan-expected price cap on Russian crude. In the forex market, the rupee gained…

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