Sensex surges 500 pts to open above 60,000 pts, Rupee climbs to 82.37

Global investors are hopeful about US Federal Reserve going soft on interest rate hikes with inflation going down.

FPJ Web DeskUpdated: Monday, October 31, 2022, 09:40 AM IST
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Sensex surged with IT stocks in the green. |

Thanks to strong global market sentiment, Sensex registered a 500-point spike to open in the green on Monday and surged past the 60,000-point mark. Nifty also started the week on a positive note above 17,900 points, driven by the strong performance of IT and finance stocks.

Global investor sentiment received a boost after US consumer spending data showed growth for the economy. Hopes are also high for the US Federal Reserve to slow down its interest rate hikes, as inflation has eased.

The Rupee also made gains against a softening US dollar to open at 82.37 at the start of the week.

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