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Mcap of BSE-listed firms jumps to record high of Rs 354.41 lakh cr

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NEW DELHI, Dec 14: The market capitalisation of BSE-listed companies surged to an all-time high of Rs 354.41 lakh crore in early trade on Thursday, with investors becoming richer by Rs 3.22 lakh crore, as the benchmark Sensex hit its all-time high level driven by a rally in global equities.

Global markets rallied after the US Federal Reserve kept its key interest rate unchanged and signalled that they expect to make three quarter-point cuts to their benchmark interest rate next year.

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The 30-share BSE Sensex jumped 955.4 points to hit its all-time peak of 70,540 during the early trade.

The market capitalisation (mcap) of BSE-listed firms hit a record high of Rs 3,54,41,617.18 crore during the early trade. Investors’ wealth climbed by Rs 3,22,385.27 crore from Rs 3,51,19,231.91 crore on Wednesday.

Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Tech Mahindra, Wipro and IndusInd Bank were the major gainers.

Power Grid, Asian Paints, Nestle and Hindustan Unilever were among the laggards.

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In Asian markets, Seoul, Shanghai and Hong Kong were trading in the positive territory while Tokyo quoted lower.

The US markets ended with significant gains on Wednesday.

The Federal Reserve kept its key interest rate unchanged on Wednesday for a third straight time, a sign that it is likely done raising rates after having imposed the fastest string of increases in four decades to fight a painfully high inflation.

The Fed’s policymakers also signalled that they expect to make three quarter-point cuts to their benchmark interest rate next year.

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“The clear dovish message from the Fed yesterday has set the stage for a smart Santa Claus rally in the coming days, and this can even trigger a pre-election rally that can take the markets to a series of new highs,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services.

Foreign Institutional Investors (FIIs) continued to remain buyers as they bought equities worth Rs 4,710.86 crore on Wednesday, according to exchange data. (PTI)

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The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
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