Mumbai: Strong purchases in RIL and financial stocks helped Sensex Rally by 765 points on Monday to settle at 56,890, the highest ever closed, because the global market cheered relatively dovish comments from the Fed Chairman Jaome Powell, made on Friday night.
At NSE, Nifty is too rally strong closer to the point17,000 level when adding 226 points to end at a record level of 16,931.
Sentiment was also encouraged when Indian Rupees were reinforced by 42 Paise again to close at 73.27 to one dollar.
According to a report with a rating of care, comments by Powell at the Jackson Hole Conference were taken positively by the market.
At the annual symposium last week, the Fed’s head said it could move away from pumping money into the economy at the end of the year, but raising interest rates would take time.
This pushes the market, said Care Report.
The report said fewer bond purchases (popularly called quantitative easing, or QE) means fewer funds to circulate to developing country markets such as India, which can be a concern so that the amount of QE starts to fall.
The deployment of the Delta variant is a matter of concern for market players.
On Monday, the FPI purchase is a little more than 1,200 crore Rs.
Among index shares, Bharti Airtel rose more than 4% after the company announced on Sunday Rs 21,000-raising crore funds.
Rally also added around RS 3.5 Lakh Crore to the wealth of investors with BSE MCAP now at nearly Rs 250 lakh crore, or around $ 3.4 trillion.
Sensex, Nifty Hit Records About Dovish Us Fed Comment
