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Sensex smashes past 85,000 for the 1st time

Business

Big day for the Indian stock market—Sensex closed above 85,000 on Friday, setting a new record. Nifty also joined in, ending above 26,000.
Even though foreign investors have been pulling out money lately, strong buying by domestic investors kept things moving up.

What's driving the rally?

A big boost came from Wall Street's surge after the US Fed cut interest rates the day before, which made investors more optimistic here too.
It wasn't just stocks—silver prices crossed ₹2 lakh/kg and gold hit fresh highs before cooling off.
Thanks to all this action and steady domestic fund inflows (despite a weaker rupee), investor wealth jumped by about ₹3.7 lakh crore and BSE's total value now stands at a massive ₹470.3 lakh crore.