New Delhi: The equity index jumped to a record highlight again on Friday with BSE Sensex benchmarks up more than 593 points led by profits in it and financial stocks.
After reducing the highest intra-day 55,488, the 30-share BSE index completed 593 points or 1.08 percent at a fresh peak of 55,437; While the wider NSE settled 165 points or 1.01 percent at a record high of 16,529.
The top players in the Sensex package include TCS, L & T, Bharti Airtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance with their shares up 3.22 percent.
In fact, Powergrid, Dr.
Reddy’s, Bank Indusind, Bajaj Finance and NTPC are the main losers down to 1.26 percent.
On the NSE platform, the nifty sub-index, financial services, banks and metals rose to 1.35 percent.
Here are the main reasons behind a surge: * Information Technology (IT) shares of LED shares benefit between sectoral nifty indices, up 1.43 percent.
“The Bulls did not show signs of fatigue because Nifty ran to another record …
global support for the rally in full with Dow and S & P regulations but other high records,” VIJIAKUMAR VK, Head of Investment Strategy in Disaster to the PTI News Agency.
Retail investors without stopping pursuing shares and momentum solely on the market have taken a good level of up to 16,500, he said, adding that the rally is likely to be led by a leading high-quality private bank and lead it.
* Banking, Stockbanking Finance, Financial Boomed Stocks After Finance Minister Nirmala Sitharaman assured the industrialist of advanced liquidity support.
Speaking at the Indian Industry Annual Meeting (CII) on Thursday, Sitharaman said that the economy has not yet reached the level in which the central bank can begin.
Pull back liquidity.
“The Minister of Finance said there would be timely tax disbursement to the state government.
If the money is used on capital investment, which can work well for the market,” Saurabh Jain, assistant vice president at SMC Securities told the Reuters news agency.
* Improving macroeconomic data that is in accordance with experts, the market surge is also driven by positive macroeconomic data.
The retail inflation was reduced to 5.59 percent in July from 6.26 percent in June amounted to the ease of the price of food products.
Meanwhile, industrial production jumped by 13.6 percent in June mainly due to low effects and good performance by manufacturing, mining and power.
sector.
“Domestic sentiment remains positive because industrial data output has shown signs of recovery in the manufacturing sector add more purchases in the market,” Likhita Chepa from Capitalvia Global Research told the IANS news agency.
“Retail inflation also began to decline.
Is another positive sign for the market.
Our research shows that if the market sustains above the zone of 16,350-16,370, we can expect the market to reach a new level of 16,480-16,500,” he added.
* China Factor Cregulatory crackdown in China has caused foreign investors to direct money into equity.
In India and other developing country markets, analysts have noted.
Foreign investors have bought $ 243.28 million in Indian equity so far this month, according to Eikon refinitiv data.
(With input from agency)