India’s benchmark stock indexes hit new record highs, driven by energy and IT shares. The NSE Nifty 50 index rose 0.40% to 20,937.70, while the S&P BSE Sensex settled 0.52% higher at 69,653.73, both record closes. The energy index climbed 1.55% to a new record, helped by lower crude oil prices. IT companies, which earn a significant share of their revenue from the U.S., gained 1.67% on the day, tracking a rise in Asian technology peers. Anticipation of a U.S. interest rate cut early next year can further fuel foreign inflows, reinforcing market momentum. High-weightage financials fell 0.14% after rising in the last eight sessions. Mid-caps rose 0.25%, while small-caps added 0.38%. Reliance Industries, gained about 1% after Jefferies reiterated “buy” on the stock. Auto stocks including Eicher Motors, Bajaj Auto, and Hero MotoCorp lost between 1% and 2.2%, after CLSA downgraded the two-wheeler stocks after a recent rally. Source: Financials, energy stocks power record rally in India’s Nifty, Sensex.


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