Markets surge amid 'peak inflation' optimism, gain now 4% in 4 days

Sensex closes at highest level since June 6; Up 8% from CY22 lows

Markets advanced for a fourth day on Wednesday amid positive global cues on optimism that ‘peak inflation’ might have been reached and prices will moderate going ahead, providing more leeway for central banks on interest rates.

A sharp jump in the US markets on Tuesday, following strong corporate earnings, a rally in technology stocks and a retreat in the US dollar against major global currencies also boosted sentiment.
 

The Sensex rose as much as 863 points, or 1.6 per cent, during the day. It gave up some gains to finish at 55,398, up 630 points, or 1.2 per cent.