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Sensex-Nifty bounce back as Fed rate cut hopes lift mood
Business
After three days in the red, the Sensex and Nifty finally bounced back on Wednesday, each rising about 0.8%.
The big driver? Hopes that the US Federal Reserve might cut interest rates in December.
That optimism got investors buying across most sectors, with IT and metal stocks leading the charge.
What fueled the rally?
Fresh US data showing weaker retail sales and low consumer confidence made a Fed rate cut seem more likely, especially after supportive comments from Fed officials.
Back home, financials, banks, and real estate stocks all gained between 0.5% and 1%.
Market heavyweights like HDFC Bank, ICICI Bank, and Reliance Industries also climbed around 1%, helping push the market higher.