Stock Market Live Updates 7 March 2024: Sensex, Nifty set to open at new record high as Powell’s rate assurance drives global rally

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Updated – March 07, 2024 at 08:31 AM.

Sensex, Nifty, Share Prices LIVE: India’s Nifty 50 is set to open at a fresh record high on Thursday, tracking a rally in Asian peers after U.S. Federal Reserve Chair Jerome Powell assured likely rate cuts this year and ruled out near-term risk of economic recession.
The GIFT Nifty was trading at 22,643.50 as of 7:54 a.m., indicating that the Nifty 50 will open above its Wednesday’s close of 22,474.05.
Asian markets were higher. Wall Street equities closed higher, after Fed Chair Powell said in a congressional testimony that rate cuts can be expected in 2024. He also added the central bank was on a “good path” toward achieving a soft landing of the economy and ruled out any short-term risk of recession.

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