Markets Rally on Banking Gains, Fed Rate Cut Hopes and Global Cues

Equity benchmarks rose over 0.7% on Thursday, driven by banking stocks

and upbeat global sentiment amid hopes of a US Fed rate cut. Sensex hit 83,243 and Nifty 25,520(at the time of posting). Strong FII inflows, rupee appreciation, optimism on India-US trade talks, and reports of PSU bank mergers further lifted market sentiment.