Indian stock indexes rose to near one-month highs on Wednesday, following global stocks. Softer-than-expected U.S. inflation data raised hopes of an end to the rate-hiking cycle in the U.S. The NSE Nifty 50 index settled 1.19% higher at 19,675.45, and the S&P BSE Sensex rose 1.14% to 65,675.93. This was the Nifty 50’s best gain since March 31 and the highest close since Oct. 18. All 13 major sectors logged gains, with high-weight financials adding 0.92% and IT stocks jumping 2.59%. The surge in IT companies came after softer-than-expected U.S. consumer prices inflation data in October. Rising hopes of an end to interest rate hikes in the U.S. sparked a rally in stock markets and pushed U.S. Treasury yields lower. Real estate and small-cap stocks hit record highs, and some experts predict that the Nifty and Sensex may hit fresh record highs before the end of 2023. Among individual stocks, Hindalco Industries and Eicher Motors extended their post-earnings rally, rising 3.67% and 5.57%, respectively.
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