Indian benchmark equity indices ended higher on September 20.
Sensex ended 1,359.52 points higher at 84,544.31, whereas Nifty concluded 375.15 points up at 25,790.95.
Domestic stock markets witnessed a continuous surge with the upward momentum persisting in the Nifty and Sensex indices.
On Friday, the Sensex crossed the 84,000 mark, completing a 1,000-point rise in just eight days. Earlier, on September 12, the Sensex had crossed the 83,000 mark for the first time and the bull market is now eyeing the 85,000 level.
Experts attribute this strong rally in Indian markets to the anticipation of a potential rate cut by the Reserve Bank of India (RBI), following the US Federal Reserve’s decision to cut rates. They noted that such a move in the US has led to an increase in liquidity flowing into economies like India, where returns on investments are more attractive due to higher interest rates compared to the US.
Biggest gainers on the Nifty were M&M, ICICI Bank, JSW Steel, Bharti Airtel and L&T, while losers included Grasim Industries, SBI, IndusInd Bank, TCS and Bajaj Finance.
In the previous season, Sensex ended 236.57 points higher at 83,184.80, whereas Nifty concluded 38.25 points up at 25,415.80.
