Sensex and Nifty both increase by over 1% to close at new records.

Indian equity benchmarks soared to a new all-time high, ending the session higher by a rise in global risk assets . The broad NSE Nifty-50 index climbed 216.85 points, or 1.19 percent, to close at an all-time high of 18,484.10 .

After the Federal Reserve meeting minutes showed readiness for smaller rate increases from now on, Indian equity benchmarks soared to a new all-time high, ending the session higher by a rise in global risk assets, the broad NSE Nifty-50 index climbed 216.85 points, or 1.19 percent, to close at an all-time high of 18,484.10.Asian stocks remained stable on Thursday, with trading volumes predicted to be lower due to the US market being closed for the Thanksgiving holiday, Others, on the other hand, referred to the need for a higher terminal rate, according to Sunaina Sinha Haldea, Global Head of Private Capital Advisory at Raymond James.Is it a turning point?No, but is there a pause in rate increases and the path downward towards rate cuts being followed?I think we'll look back and say this was the peak of it.Data published on Wednesday also revealed that as the US economy cooled, company activity declined, and unemployment claims increased.So the odds for the central bank to raise rates by 50 basis points next month and end a string of major 75 basis point increases have increased.But only a few people were aware of the risk rally.Investors also weighed the impact of China's record Covid-19 cases on the economy, particularly in FX markets, with the dollar really giving up ground and equities rallying, according to Rob Carnell, Head of INGs Asia-Pacific Research, although it's unlikely that Beijing's initiative to reduce banks reserve requirements ratio will significantly boost the country's economy as long as the administration maintains its zero-COVID policy.

After falling more than 3% on Wednesday, while the Group of Seven (G7) countries discussed setting a price cap on Russian oil above the current market price, US crude oil futures fell further on Thursday, to $77.74 per barrel.

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