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Live MintStock Market News: Following signals from US Federal Reserve Chair Jerome Powell that interest rate cut is on the way, the domesticbenchmark indices, the Sensex and Nifty 50, began higher on Monday, tracking the lead of other Asian peers. According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the Fed's Powell's clear announcement that the cycle of rate cuts is about to begin would give the ongoing global stock market rise even more durability. Following Jerome Powell's most explicit indication to date that the US Federal Reserve would start reducing interest rates in September, stocks surged broadly and bond yields fell. The broader market has undergone healthy retracement as Nifty Midcap and small cap have formed a higher base formation above 50 days EMA that has set the stage to challenge All Time High.