New Delhi: Indian stock markets rallied yesterday due to a slight drop in inflation in the US and appreciation of the Indian rupee.
Subsequently, the national stock market index Nifty touched a 52-week high.
Also, the Bombay Stock Exchange’s ‘Sensex’ rose 1,181 points to hit an all-time high.
Last year on October 18, ‘Sensex’ had reached a maximum of 61 thousand 766 points. Now it has risen above that and has touched a new peak of 61 thousand 795 points.
Global markets rallied after inflation eased slightly in the US. It also reflected in the Indian stock markets.
As the US dollar depreciated, so did Treasury yields. This created an opportunity for Indian markets.
Foreign investors have turned their eyes to the Indian stock market in the wake of declining treasury yields.
Also, domestic IT stocks rallied as fears of an economic slowdown in the US eased.
Because of this, the stock markets saw a rise yesterday.
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