Markets rally on Fed rate cut hopes, IT, metals lead

Hi, you’re listening to ET Market Watch, I’m Neha V Mahajan, here’s your quick 60-second wrap for Monday!
Markets in Green! Sensex rose 419 points, Nifty closed above 24,700, riding high on Fed rate cut hopes after weak U.S. jobs data.

IT stocks gained 1.6%, benefiting from softer U.S. interest rates.
Metal stocks jumped 2.5%, thanks to a weaker dollar.

Auto stocks also rallied, Hero MotoCorp zoomed 5%, TVS Motor up 2.9%, both on strong July sales.

UPL soared 7% after strong Q1 margins.
MCX gained 5% on solid earnings and a stock split plan.

Rupee slipped further to 87.65/$ on continued FII outflows.
Crude fell. Brent at $68.82, as OPEC+ plans more supply.

Experts say: Nifty must break 24,800 for a move to 25K. Below 24,600? Caution returns.

Global markets cheered likely Fed cuts: Asia, US futures up!

That’s it for today. This is ET Market Watch , see you tomorrow!