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BSE Sensex crosses milestone of 66,000 points led by IT heavyweights
BSE Sensex is up 625 points in a ferocious rally at 66,019 points powered by positive cues from the US market. Sensex was up 586 points at 65,980 points in Thursday morning trade. IT stocks powered the Sensex rally with TCS, Infosys, Tech Mahindra up by more than 2 per cent.
Indian markets scaled new peaks on Tuesday
The Sensex of BSE touched a high of 65,672.97 points and Nifty of NSE 19,434.15 points. The Sensex opened at 65,503.85 points and raced up to reach a 52 week high of 65,672.97. On Monday, the Sensex had closed at 65.205.05. points. At the NSE, the Nifty opened at 19,406.60 and flared up to a 52 week high of 19,434.15 points.
Sensex vs BSE: The 'capital allocation' multi-baggers
The David vs Goliath fight between Sensex and other BSE stocks: But, one puzzle stares us straight in the face. While the Sensex has compounded at an annual growth rate of almost 13 per cent in the last five years, a look at the rest of the BSE stocks outside the Sensex that have been listed for the last five years shows an annual decline of 1.16 per cent.
Momentum can take market higher but analysts caution of sharp correction
"Momentum can take the market higher; but at high valuations risk is high. Some presently unknown negative developments can trigger a sharp correction. So, even while remaining invested in the market, investors have to be cautious," V. K. Vijayakumar said. The BSE Sensex scaled mount 65,000 on Monday led by HDFC and Reliance Industries.
The 1000-point journey for Sensex jump took 144 sessions
Sensex crossed and closed above 64,000 points for the first time on Friday. The latest 5,000-point milestone took place in 443 sessions or 21.7 months, Sriram said. Sensex CAGR as measured by Price Return Index for the past 20 years stood at 15.5 per cent and by Total Return Index at 17.2 per cent.
Sensex jumps 800 points to record highs on FII buying, monsoon progress
Nifty opened gap up and strengthened throughout the day to close near the day’s high with gains of 213 points (+1.1 per cent) at 19,186 levels. The broader market too participated in the rally with the Nifty midcap 100 at a fresh record high. All sectors ended in the green, except metals, said Siddhartha Khemka, Head-Retail Research, Motilal Oswal Financial Services.
Buying in heavyweight stocks pushes Indian markets to all-time high
The market's bullish momentum was further supported by strong FII inflows and a narrowing current account deficit, both of which positively impacted investor sentiments. The gains were widespread, with pharma and metal sectors leading the way as top performers, outshining others, Nair said.
NIFTY falls short of intraday lifetime high by a whisker, correction to follow
The new level was 63,523.15 points on BSESENSEX and 18,856.85 points on NIFTY. BSESENSEX at the end of the week lost 405.21 points or 0.64 per cent to close at 62,979.37 points while NIFTY lost 160.50 points or 0.85 per cent to close at 18,665.50 points. The broader indices saw BSE100, BSE200 and BSE500 lose 1.10 per cent, 1.10 per cent and 1.09 per cent respectively.
Foreign inflows drive Sensex to fresh all-time high
Even Nifty attempted to touch new highs, but fell short by 12 points. The index finally closed with a gain of 40 points at 18,857 points, said Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services. Sectorally, it was a mixed bag with major buying seen in financial services, especially NBFCs.
State polls may make markets nervous: Dhiraj Relli, MD & CEO, HDFC Securities
The upward trajectory is owing to a combination of factors such as good FY23Q4 corporate results, foreign institutional investors (FIIs), and also due to the domestic investor interest. "However, the markets may start getting nervous ahead of the next round of state elections due in November/December," he told IANS in an interview.
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