The most important driving power of this rally is the sustained FII shopping for for the final 9 buying and selling days with cumulative shopping for of Rs 15,767 crore.
Among the 30-share Sensex, the highest gainers had been IndusInd Bank, PowerGrid, Tata Motors, UltraTech Cement and ITC, whereas the highest losers had been SBI, Axis Bank, Infosys, Tata Steel and HDFC
The BSE Sensex on Wednesday jumped 204.23 factors to 61,965.56 within the early commerce, whereas the NSE Nifty rose 57.2 factors to 18,323.15. The rupee additionally strengthened 5 paise to 82.01 towards the US greenback within the morning commerce.
Among the 30-share Sensex, the highest gainers had been IndusInd Bank, PowerGrid, Tata Motors, UltraTech Cement and ITC, whereas the highest losers had been SBI, Axis Bank, Infosys, Tata Steel and HDFC.
V Ok Vijayakumar, chief funding strategist at Geojit Financial Services, stated, “Since bulls are in charge of the market now, it’s attainable that this rally can take the market in direction of the Nifty all-time excessive of 18887, which is simply 3 per cent away. The most important driving power of this rally is the sustained FII shopping for for the final 9 buying and selling days with cumulative shopping for of Rs 15767 crores. This sudden change in FII technique has additionally triggered some brief masking, which has assisted the bulls.”
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He added that the market will be closely watching the Karnataka exit poll results this evening. A congress victory in the elections is unlikely to impact the market much, but an unexpected setback to the BJP may slightly impact near-term sentiments. More important from the market perspective will be the CPI data from the US expected today. If the disinflation trend continues that would be a shot in the arm for equity markets globally.
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