Indian Stock Market Rally: A tremendous rise was seen in the Indian stock market on Wednesday, 26 November, the third trading day of the week. Both the major benchmark indices closed trading in the green. The 30-share BSE Sensex closed at 85,609 points with a gain of 1022 points.
At the same time, a rise was also recorded in NSE Nifty 50. Nifty jumped 320 points and closed at 26,205 level. These could be some of the reasons behind this rise in the Indian stock market.
1. Foreign investors made huge purchases
Foreign institutional investors have expressed confidence in the Indian market on Wednesday’s trading day. Due to which the market got strengthened. Talking about the figures, foreign investors have made net purchases of Rs 785 crore in the last session. Besides, domestic investors have also invested a lot of money in the stock market. Domestic institutional investors made purchases worth about Rs 3,912 crore.
2. US Federal Reserve expected to cut interest rates
Expectations of possible Federal Reserve rate cut coming from America strengthened the Indian market. The expectations of interest rate cut have increased due to the statements of two Federal Reserve officials. Besides, the effect of 1 percent rise in the Asian market was also seen in the Indian stock market.
3. Fall in crude oil prices
There was a decline in crude oil prices globally. Due to which there was a boom in the Indian market. On Wednesday, the price of crude oil fell below $63.
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