Indian Stocks Soar: Why the Sudden Boom?

Indian stocks kicked off Wednesday on a high note. This surge came as investors around Asia felt more confident. They think the U. S. Federal Reserve might cut interest rates soon. Tech and metal companies led the charge, pushing the market up. The Nifty 50 and BSE Sensex both climbed by 0. 32%. The Nifty 50 reached 25, 965. 1, while the Sensex hit 84, 859. 81 by 9:19 a. m. IST. Every major sector saw gains. Smaller and mid-sized companies did even better, with rises of about 0. 7% and 0. 5%, respectively. Across Asia, markets also went up by 1%. This followed a boost in U. S. stocks. The reason? U. S. retail sales were lower than expected. Consumer confidence dropped, too. These signs made investors think a rate cut in December is more likely. Two Fed policymakers also spoke in favor of a December rate cut. This news made investors feel even more optimistic. Lower U. S. interest rates can make countries like India more appealing to foreign investors. Tech companies, which get a lot of their money from the U. S. , saw a 0. 7% rise. Metal companies gained 1%, as the hope for a U. S. rate cut improved their outlook.