NEW DELHI: Nifty hit its lifetime high of 21,595 points on December 27 as investors remain cheerful over the share market gains and expect to end the year with massive gains. Banking stocks are leading the charts today major gains posted by HDFC Bank, Reliance Industries Ltd and Infosys.
The 50-stock index had crossed 21,500 only a week ago.
As the US inflation has been cooling of late, market participants are buying stocks aggressively, expecting the US Federal Reserve to start cutting interest rates as early as March next year.
“Market pricing now shows a more than 80 per cent chance the Fed is likely to begin cutting rates next March, according to the CME FedWatch tool, with over 150 basis points of easing priced in for all of 2024,” reported Reuters.
