On January 29, 2024, the Sensex and Nifty resurged reaching 21,745, recovering from a significant dip three days earlier. The resurgence was fuelled by optimistic sentiments driven by promising US Bureau of Economic Analysis data released today. However chance of early interest rate cuts to be announced by the Federal Reserve on January 31, 2023, and expectations surrounding the upcoming budget are the larger causes. The Nifty has declined in three out of the last four weeks, dropping over 800 points last week from its peak of 22,124 points on January 15, 2024.