NEW DELHI: Both Indian indices – sensex and Nifty- continued their bull run on Wednesday and managed to close at new life-time highs.
Continuing its rally for the fifth consecutive day, the 30-share BSE Sensex surged by 302.30 points or 0.45 percent, reaching a new milestone by settling at a record closing high of 67,097.44. In a remarkable surge, it also attained its all-time intra-day peak of 67,171.38, gaining 376.24 points or 0.56 percent during the day.
Similarly, the NSE Nifty witnessed a positive trend, advancing by 83.90 points or 0.42 percent to achieve a lifetime closing high of 19,833.15. Displaying strong performance, it also scaled a fresh record intra-day peak of 19,851.70, marking a gain of 102.45 points or 0.51 percent.
Aided by broad sectoral gains and information technology (IT) stocks, the BSE benchmark sensex surged by to close above 67,000-mark for the first time.
In the last few sessions, IT firms, which generate a substantial portion of their revenue from the United States and Europe, experienced a notable increase in stock prices. This surge can be attributed to the market’s optimism regarding the U.S. Federal Reserve’s potential approach of concluding its monetary policy tightening cycle.
In the last one month, the sensex has gained nearly 4,000 months on a closing basis, led mainly by technology stocks. This gain too came on the back of foreign fund buying worth about Rs 40,000 crore, official data showed.
The recent surge in Indian stock prices can be attributed to several factors, including the consistent influx of foreign portfolio funds, a positive economic outlook, strong global markets, and a relative moderation in inflation.
Over the past five months, foreign portfolio investors (FPIs) have maintained their position as net buyers in the Indian stock markets. Data from the National Securities Depository (NSDL) reveals that FPIs have consistently purchased Indian stocks during this period.
In March, April, May, and June, FPIs acquired stocks worth Rs 7,936 crore, Rs 11,631 crore, Rs 43,838 crore, and Rs 47,148 crore, respectively. This trend has continued into July, with FPIs having already purchased equities worth Rs 34,444 crore.
The unwavering interest of foreign investors in Indian stocks reflects the confidence they have in the country’s economic prospects. This, coupled with the positive performance of global markets, has further bolstered the bullish sentiment in the Indian stock market.
Moreover, the relative moderation in inflation has provided additional support to the current bull run. With inflation under control, investors are more inclined to participate in the stock market, anticipating favorable returns.
(With inputs from agencies)
Continuing its rally for the fifth consecutive day, the 30-share BSE Sensex surged by 302.30 points or 0.45 percent, reaching a new milestone by settling at a record closing high of 67,097.44. In a remarkable surge, it also attained its all-time intra-day peak of 67,171.38, gaining 376.24 points or 0.56 percent during the day.
Similarly, the NSE Nifty witnessed a positive trend, advancing by 83.90 points or 0.42 percent to achieve a lifetime closing high of 19,833.15. Displaying strong performance, it also scaled a fresh record intra-day peak of 19,851.70, marking a gain of 102.45 points or 0.51 percent.
Aided by broad sectoral gains and information technology (IT) stocks, the BSE benchmark sensex surged by to close above 67,000-mark for the first time.
In the last few sessions, IT firms, which generate a substantial portion of their revenue from the United States and Europe, experienced a notable increase in stock prices. This surge can be attributed to the market’s optimism regarding the U.S. Federal Reserve’s potential approach of concluding its monetary policy tightening cycle.
In the last one month, the sensex has gained nearly 4,000 months on a closing basis, led mainly by technology stocks. This gain too came on the back of foreign fund buying worth about Rs 40,000 crore, official data showed.
The recent surge in Indian stock prices can be attributed to several factors, including the consistent influx of foreign portfolio funds, a positive economic outlook, strong global markets, and a relative moderation in inflation.
Over the past five months, foreign portfolio investors (FPIs) have maintained their position as net buyers in the Indian stock markets. Data from the National Securities Depository (NSDL) reveals that FPIs have consistently purchased Indian stocks during this period.
In March, April, May, and June, FPIs acquired stocks worth Rs 7,936 crore, Rs 11,631 crore, Rs 43,838 crore, and Rs 47,148 crore, respectively. This trend has continued into July, with FPIs having already purchased equities worth Rs 34,444 crore.
The unwavering interest of foreign investors in Indian stocks reflects the confidence they have in the country’s economic prospects. This, coupled with the positive performance of global markets, has further bolstered the bullish sentiment in the Indian stock market.
Moreover, the relative moderation in inflation has provided additional support to the current bull run. With inflation under control, investors are more inclined to participate in the stock market, anticipating favorable returns.
(With inputs from agencies)
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