Sensex jumps 350 points, Nifty tops 22,300 as US inflation data spurs rate cut hopes

Indian benchmark indices, BSE Sensex and Nifty50, rose on positive global cues after US consumer inflation data. Nifty IT index surged 1.6%, led by Mphasis, Tech Mahindra, and Infosys. Nifty Pharma lagged, while Jindal Stainless fell 10% on softer steel prices. Markets expect two rate cuts in 2024, based on CMEGroup's FedWatch tool.

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