key factors for today's bull run in Dalaal street

Here are some of the important factors behind today's bull run:

1. Reports suggested that Mukesh Ambani-led company was close to inking a deal with Future Group to acquire their retail business. Shares of RIL jumped 6.72 percent to Rs 2,143. The scrip alone contributed about 400 points towards Sensex’s gain.  Meanwhile, shares of HDFC Bank jumped after the company said it has found its new CEO and has got RBI approval for the same. The stocks that gained over 4 per cent to Rs 1,043, was the second biggest contributor to the Sensex.

2.An improved sales performance by automotive companies in July gave hope to investors that recovery was more or less here. Auto stocks were in demand as the Nifty Auto index climbed 1.64 per cent.

3. The buying was also intensified as indices have been falling for four straight sessions. Before today’s trade, Sensex had fallen in six instances in seven sessions. Hence, the valuations of many largecap stocks had cooled off. This resulted in buying on dips.

4. All Asian market indices closed the day in green. Japanese Nikkei 225 was up 1.7 per cent, Singapore’s Strait Times added 1.24 per cent while Hong Kong based Heng Seng advanced 2 per cent.