Sensex, Nifty hit record highs on global market rally

Sensex, Nifty updates on December 14, 2023

Benchmark equity indices Sensex and Nifty hit their all-time high levels on Thursday, December 14, 2023, tracking a global market rally 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.

Cheering the move, the 30-share BSE Sensex jumped 796.64 points to hit its all-time peak of 70,381.24 in early trade. The Nifty rallied 222.1 points to reach its record peak of 21,148.45.

Among the Sensex firms, Tech Mahindra, HCL Technologies, Wipro, Infosys, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv and ICICI Bank were the major gainers.

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

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 painfully high inflation.