Tag: bull run

The Indian markets made history as Sensex surged past the 60,000 marks for the first time, achieving another feat since the bull run started last year. Led by strong gains in IT and banking counters, the BSE Sensex was trading 400 points up at 60,286 and the Nifty was 105 points higher at 17,927. The top gainers in the 50-pack index included Infosys, Wipro, and HCL Tech, while the top losers were Hindalco, JSW Steel, and Tata Consumer Products. The broader indices, too, opened firm, with the Nifty Midcap 100 up 0.5 percent and the Smallcap 100 higher by 0.74 percent. The volatility indicator--India VIX--rose by 1.14 percent at 16.79 level. Further, sectorally, the top gainer remained to be the Nifty IT pack, which rose over 2 percent. The only sectoral laggards in opening trade were Nifty Media (down 0.93 percent), Nifty Metal (0.84 percent), Nifty FMCG (down 0.14 percent), and Nifty PSU Bank (down 0.02 percent).

Indian benchmark indices extended their bull-run and hit new peaks today(6th Sept.2021). The NSE Nifty50 surpassed the 17,400-mark and touched a new lifetime high of 17,421 while the S&P BSE Sensex clocked 58,480. Reliance Industries, up 2.7 percent, was the top-performing stock on the 30-share pack. It hit a new peak of Rs 2,454 apiece on the BSE. HUL, L&T, and M&M were the other gainers on the Sensex index. On the flipside, Tata Steel, Power Grid, Nestle India, and Tech M declined. In the broader markets, the BSE MidCap index hit a new record high of 24,562.5. The SmallCap index, meanwhile, claimed a new high of 27,502.

The market mood is changing towards a bull run again, according to some analysts. The major positives for the market now are the steadily declining fresh Covid cases and fast-rising vaccinations, which will facilitate the further easing of restrictions and rebound in economic activity. From the market perspective, the fact that FPIs have ceased selling and the DIIs have turned aggressive buyers are strong positives. Therefore, it is quite possible that the market may again favour the bulls and the 'buy on dips strategy' may resume. Since exports are doing well & INR has depreciated, exporters are likely to do well. In banking, the share of the private sector in credit approvals has risen above 36% which is positive for the leading private bank majors.

According to billionaire investor Rakesh Jhunjhunwala, annual equity returns from Indian stocks will be about five percentage points on top of the economic growth of 7%-10% in the coming years. Jhunjhunwala is counting on the nation’s potential for long-term growth and political stability to fuel further gains in the $3 trillion stock market that’s already been hitting record after record this year. His bets range from banks and health insurance -which he says will be boosted by the pandemic - to a broad consumer rally on the back of Prime Minister Narendra Modi’s policies to give every Indian home and access to clean water. “We are in the middle of a bull phase which will last for a very, very long time,” Jhunjhunwala said in an interview earlier this month. “India will also look lucrative when the U.S. Federal Reserve begins to withdraw stimulus, but there will be short-term disruptions.”

Indian benchmark indices extended their bull run to the fourth straight day today(29th April 2021) supported by the US Fed decision to keep policy loose and firm global markets cues. Starting gap-up, frontline indices reclaimed major psychological marks in the early deals with the S&P BSE Sensex reclaiming the 50,000 marks. Profit booking, mainly in banking counters, saw the frontline index give up some of its gains as trading progressed. There are indications that the markets will continue their journey north, as long as global and domestic cues remain supportive. S&P BSE SENSEX has scaled the resistance range of 50,270 with an intra-day high of 50,375 on Thursday Read more

Indian benchmark indices extended their bull run to the fourth straight day today(29th April 2021) supported by the US Fed decision to keep policy loose and firm global markets cues, Starting gap-up, frontline indices reclaimed major psychological marks in the early deals. The indices, however, pared gains marginally with the benchmark S&P BSE Sensex up 300 points to quote at 50,045 level while the Nifty50 was at 14,960, up 87 points. Earlier in the day, the indices hit respective day highs of 50,376 and 15,044, respectively. The Sensex index is back above 50,000 after 12 trading sessions while the Nifty has reclaimed the 15,000-mark for the first time since March 16. The benchmark indices leaned on Reliance Industries, HDFC twins, Axis Bank, ICICI Bank, and Bajaj Finance to support the fresh breakouts. All the heavyweights were up in the range of 2 percent to 2.5 percent. Read more

Yesterday(3rd August, Monday) was a bloody show by bears, but today bulls decimated them by recouping all losses thanks to strong global cues and low-level buying by investors. The outperformance of select blue-chips also boosted the gains. The 30-share Sensex jumped 748 points to close at 37,688, while peer Nifty climbed 211 points to end at 11,103 points. Nifty Midcap and Nifty Smallcap indices added over a percent each, underperforming their headline peers. Read more