Markets closed higher on Friday, with the Nifty reclaiming the psychologically important 26,000 level as metal stocks led a broad-based rally fuelled by improved global risk appetite following the US Federal Reserve’s 25 basis points rate cut. The Nifty closed at 26,046.95, up 148.40 points or 0.57 per cent, while the Sensex ended at 85,267.66, gaining 449.53 points or 0.53 per cent.

The gains came despite the rupee hitting record lows against the dollar , with sustained foreign institutional investor outflows continuing to weigh on the currency. However, optimism around improved liquidity conditions and supportive central bank policies globally helped domestic equities shrug off currency headwinds.

“Global risk appetite improved after the US Fed rate cut, boosting liquidity optimi

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