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Broader market rally cannot continue for long, warn analysts
Retail exuberance and sustained flows into the mid and small-cap mutual funds are driving this rally, which has slipped into a frothy zone. This broader market rally cannot continue for long, he said.
Mid & small-caps remain vulnerable to correction since valuations are excessive
Two trends are important: one, the correction in mid and small-caps is almost double the correction in large-caps; two, DIIs turned big buyers towards the end of the trading day, he said.
Valuations in mid & small cap segments are excessive, warn analysts
The steady rise in the US market which has helped the Dow to set a new record high, is exhibiting the same trend.
Foreign Institutional Investors (FIIs) Acquire Rs 20,000 Crore Worth of Stocks in a Fortnight
The BSE Sensex is presently up 27 points at 71,511 points, with Sun Pharma showing a 1.6% increase.
IT Stocks Propel Sensex Beyond 71K Mark
The BSE Sensex experienced a notable surge, climbing 559 points to reach 71,108 points. Among the standout performers within the Sensex were IT stocks, with HCL Tech exhibiting a 5 percent increase, Infosys and TCS both rising by 4 percent, and Tech Mahindra recording a 3 percent uptick. Tata Steel also demonstrated a notable growth of 3 percent.
Market Rally Led by IT and Real Estate Stocks
Large caps, particularly well-valued ones in banking and IT, are poised to benefit, with potential spillover effects on mid and small caps amid retail enthusiasm. BSE Sensex surged by 847 points, reaching 70431 points on Thursday, with IT stocks like Infosys and HCL Tech spearheading the upward momentum with over 3% gains.
Sensex Witnesses Over 200-Point Drop as IT Heavyweights Lag Behind: Market Update
The IIP growth of 11.7 percent in October indicates continued economic growth. The decline in Brent crude below $74 is strengthening India's macros. Leading banks, capital goods, cement, oil marketing companies, and the leading airline company are performing well.
Sensex Surges Beyond Record-Breaking 70,000 Mark During Morning Trade
By mid-morning, the BSE Sensex climbed 0.32% to breach 70,048, while the NSE Nifty 50 rose 0.24% above 21,019 points.
After Election Results, Momentum in Rally Expected to Persist
Indications suggest a more substantial shift, expected to persist until at least the mid-April to May 24, coinciding with the ongoing elections. The prevailing market sentiment reflects optimism, aligning with the current government's favorable disposition and increasing the likelihood of their consecutive third term.
PSU Stocks Surge to Fresh Highs in Market Following BJP's Assembly Poll Victories
The BJP's victorious stance in the state Assembly polls across Madhya Pradesh, Rajasthan, and Chhattisgarh triggered a monumental rally, with PSU stocks emerging as the most significant gainers.
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