Sensex
Markets Soar to Record Heights Following Dovish Commentary from US Fed
Rupak De, a Senior Technical Analyst at LKP Securities, highlighted the Nifty's breakout from consolidation, driven by a rise in long positions compared to short trades. The index's comfortable position above crucial moving averages indicates robust sentiment, with potential for further advances toward 21,400 and beyond, according to De. Support is evident at 21,000, where significant Put positions are held.
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 Surges Beyond 70,000 Mark Following Dovish Message from US Fed
The key takeaway from the Federal Reserve's message delivered on Wednesday is that the era of tightening is concluded, and there's a possibility of three rate cuts in 2024, despite market expectations for four. This sentiment is expected to translate into a surge, with the Dow's record-breaking rally influencing various indices to attain new highs, as per Vijayakumar.
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.
Market Projections: Nifty Poised to Reach 21,000, Sensex Aiming for 70,000
Vijayakumar notes that any market dips are likely to be seized by Foreign Institutional Investors (FIIs) who have consistently demonstrated themselves as committed buyers. He points to the ongoing decrease in US bond yields, with the 10-year yield currently falling below 4.20 per cent, as a factor that will contribute to sustained FII buying.
NIFTY Achieves Record Highs, BSE SENSEX Poised to Follow Suit
The recent week in the stock market was marked by strong gains, with markets performing positively on three out of four trading sessions. Notably, Wednesday saw sharp gains, followed by a robust opening for the December series on Friday. The anticipation of election results in five states, as indicated by exit polls, suggested a closely contested race, with potential overall gains for the ruling party at the center. This, coupled with a strong rally in the Dow, contributed to the positive market sentiment.
Sensex Surges Above 67,000 on the Back of Market Momentum
Vijayakumar points out the Q2 FY24 GDP growth rate of 7.6 per cent, surpassing initial expectations.
Rapid Growth: India's Equity Derivatives Market Speeds Up
According to a report by Jefferies, the surge in investor engagement and the segmentation of equity derivatives have propelled derivative volumes to 20-30 times higher than those observed in developed markets.
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