Domestic market buoyed by expectations of a Fed rate cut in September
BENGALURU, July 2 Domestic shares hit record highs on Tuesday, led by information technology stocks, which continued to rise on renewed hopes of an interest rate cut by the US Federal Reserve in September.
The NSE Nifty 50 was up 0.21 per cent at 24,186.5 points, while the S&P BSE Sensex added 0.22 per cent to 79,653.21 points, as of 9:21 a.m. IST.
IT stocks, which rose 2 per cent in the previous session, added 0.7 per cent on the day.
All the 13 major sectors logged gains. The broader, more domestically focussed small- and mid-caps rose 0.4 per cent and 0.2 per cent, respectively.
