1155: Marketbuzz Podcast with Ekta Batra: Sensex, Nifty 50 to surge as Fed decision triggers global rally

Indian benchmark indices, Sensex and Nifty 50, are likely to scale new highs in the trading session of December 14, tracking global peers. The rally shall come after the US Federal Reserve flagged the end of its tightening cycle and struck a dovish tone on the interest rate outlook.



India's GIFT Nifty was down 0.07% from its previous close at 21,227.50, as of 8:10 a.m., which implies the Nifty 50 will open higher than its last closing level of 20,926.35.



In the overnight session, Wall Street equities surged with the Dow Jones Industrial Average gaining 1.4% to notch a record closing high. Asian stocks too followed US market shares and broadly rallied in morning trade on December 14.



In the commodity space, oil prices rose in early Asian trade with Brent futures hovering around the $74 a barrel mark.



The movements come after the Fed last night acknowledged that it is making "real progress" in easing inflation on the US, while maintaining a rate pause and adding that hikes were "not the base case anymore". Chair Jerome Powell said the Fed is aware of the risks of keeping rates higher for too long and lowering them too late, at a press conference after the policy decision, bolstering expectations of a rate cut in early 2024.



Stocks to track in the domestic market: State Bank of India, NBCC, RBL Bank, Biocon, IndiGo and more



Tune in to the Marketbuzz Podcast for more cues