Indian Stock Market Surges to New Highs, Market Cap Exceeds $4 Trillion
Zee Business Video Team | Updated: November 29, 2023 08:54 PM IST
Indian stock markets surged to new highs on Nov 29, with the total market capitalisation of all BSE-listed companies reaching $4.01 trillion, or over Rs 333 lakh crore. This marks a significant milestone for the Indian economy, as it represents a gain of over $600 billion since the beginning of the year. The rally was driven by positive sentiment following dovish commentary from a US Federal Reserve official, which raised hopes of interest rate cuts in the near future. IT stocks were among the biggest gainers, as investors cheered the prospect of lower borrowing costs. The Nifty50 index, a benchmark for Indian stocks, reclaimed the 20,000 mark for the first time since September 2023.