Reliance, L&T lead Sensex surge
A 25 bp rate hike, already discounted by the market, will not trigger any market move. But if the Fed chief indicates that inflation is coming under control and, therefore, no further rate hikes are needed, that will be a big trigger for markets to move up. But such an outcome is highly unlikely since the Fed will play it safe even if inflation is coming under control, he added.
Sensex sheds 1000 points dragged down by Infosys, HUL, RIL
IT heavyweights led by Infosys, HUL and Reliance Industries dragged the Sensex down to a sharp fall of more than 1,000 points on Friday.
Sensex moving towards 67K milestone
On the other hand, Titan and Tata Motors are down by more than 1 per cent. Since the market has run up too much, too fast, a correction can happen at any time, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Some profit booking at the present level can be considered, he added.
Sensex closes above 66K, Nifty touches new high intraday
IT heavyweights led the rally as the BSE Sensex closed at 66,060, up 502 points. Among IT heavyweights, TCS was up 5.1 per cent, Tech Mahindra was up 4.4 per cent, while Infosys was up 4.4 per cent. HCL Tech was up 3.8 per cent, while Wipro was up 2.6 per cent.
Domestic institutions selloff putting brakes on market rally
Another important trend, hugely significant from the market perspective, is the steady decline in the dollar. Dollar index is now below 100, which is the lowest level since April 21, 2022. This declining dollar is favourable for emerging markets and India being the most-favoured emerging market, the FPI flows are likely to sustain, he added.
IT heavyweights power Sensex towards 66k mark
IT stocks powered the Sensex rally with TCS, Infosys, Tech Mahindra up by more than 2 per cent. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the ongoing global rally in stock markets will get a further mild boost from the latest US consumer inflation for June which has come at 3 per cent, better than market expectation of 3.1 per cent.
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.
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.
Sensex scales 65K but analysts say valuations getting stretched
Reliance was the top gainer in Sensex up by 2.32 per cent. HDFC twins and SBI among financial stocks were among the main gainers.V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said the ongoing rally in global stock markets.