Nifty keeps rising beyond 20,000, with larger markets seeing gains led by PSUs and commodities.

Global Markets React to Fed's Decision

Global markets responded positively to the US Federal Reserve's hint at three interest rate cuts in 2024, with major indices hitting record highs.

Indian Benchmarks Surge

The Nifty and Sensex opened higher, with the Nifty surpassing 22,000, driven by strong global cues and expectations of a boost in economic growth.

Sectoral Indices Rally

Sensitive sectors like Auto, Bank, and IT witnessed gains of over 1% each, reacting to the Fed's decision, signalling optimism in the Indian markets.
S&P revises India's economic growth forecast for FY25 to 6.8%, citing strong domestic economic data, fueling positivity in sectors like auto, metal, IT, infra, PSU, and cement.

S&P Raises India's Growth Outlook

Despite near-term weakness, the Nifty shows signs of consolidation amid volatility. Experts caution about overhead resistance at 22,150-22,200 levels, suggesting a sell-on-rise strategy.

Technical Outlook and Market Sentiment

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