Investors became rich by Rs 2.20 lakh crore in one day. Why did Nifty end at all-time high?
Running News:indian stock market Continued its upward trend for the fifth consecutive session and extended nifty And Sensex will remain at record high. The rally was driven by strong investor sentiment Market capitalization BSE listed companies unexpectedly earned Rs 3.91 lakh crore.
Why increase: BSE The Sensex closed 281.52 points (0.39%) higher at 72,708.16, while NSE Nifty closed at an all-time high of 22,122.25, up 81.55 points (0.37%).
-This upward trend reflects continued confidence among people investorsOn Monday alone they made a profit of Rs 2.20 lakh crore.
-Foreign institutional investors (FIIs) have been net buyers of Indian equities in 2024, having invested more than Rs 1.5 lakh crore so far. This is the highest annual flow since 2012.
-Domestic institutional investors (DIIs), including mutual funds, insurance companies and banks, have also been net buyers of Indian equities in 2024, having invested over ₹1 lakh crore so far. DIIs have been supported by strong inflows of retail investors, who have increased their participation in the stock market through systematic investment plans (SIPs) and direct equity platforms. DIIs have also taken advantage of market downturns and valuation gaps to buy quality stocks at attractive prices.
zoom in: Sectoral performance was mixed with notable gains in telecom, utilities, consumer durables, services and FMCG sectors. Meanwhile, decline was seen in metal, realty, capital goods and IT sectors. The broader market outperformed, with BSE Midcap and Smallcap indices registering gains, indicating strong preference for a broader range of stocks beyond large caps.
What they are saying: VK Vijayakumar, chief investment strategist at Geojit Financial Services, highlighted the bullish strength, despite the high valuations indicated by the buffet ratio. “The market rally driven by strong inflows from domestic investors and DIIs suggests that the uptrend may continue in the near term,” he said.
between the lines: The resilience of the Indian stock market is remarkable, especially in the face of mixed signals from global markets and domestic economic indicators. The rally underlines deep optimism among investors about India’s economic fundamentals and corporate earnings potential.
what next: Analysts remain cautiously optimistic, pointing to a short-term uptrend for the Nifty, which could potentially reach 22,500-22,600. The immediate support level is pegged at 22,000. The focus now turns to the upcoming federal elections in mid-2024, with the expectation that the market will maintain its momentum, undisturbed by global economic uncertainties.
(with inputs from agencies)
Why increase: BSE The Sensex closed 281.52 points (0.39%) higher at 72,708.16, while NSE Nifty closed at an all-time high of 22,122.25, up 81.55 points (0.37%).
-This upward trend reflects continued confidence among people investorsOn Monday alone they made a profit of Rs 2.20 lakh crore.
-Foreign institutional investors (FIIs) have been net buyers of Indian equities in 2024, having invested more than Rs 1.5 lakh crore so far. This is the highest annual flow since 2012.
-Domestic institutional investors (DIIs), including mutual funds, insurance companies and banks, have also been net buyers of Indian equities in 2024, having invested over ₹1 lakh crore so far. DIIs have been supported by strong inflows of retail investors, who have increased their participation in the stock market through systematic investment plans (SIPs) and direct equity platforms. DIIs have also taken advantage of market downturns and valuation gaps to buy quality stocks at attractive prices.
zoom in: Sectoral performance was mixed with notable gains in telecom, utilities, consumer durables, services and FMCG sectors. Meanwhile, decline was seen in metal, realty, capital goods and IT sectors. The broader market outperformed, with BSE Midcap and Smallcap indices registering gains, indicating strong preference for a broader range of stocks beyond large caps.
What they are saying: VK Vijayakumar, chief investment strategist at Geojit Financial Services, highlighted the bullish strength, despite the high valuations indicated by the buffet ratio. “The market rally driven by strong inflows from domestic investors and DIIs suggests that the uptrend may continue in the near term,” he said.
between the lines: The resilience of the Indian stock market is remarkable, especially in the face of mixed signals from global markets and domestic economic indicators. The rally underlines deep optimism among investors about India’s economic fundamentals and corporate earnings potential.
what next: Analysts remain cautiously optimistic, pointing to a short-term uptrend for the Nifty, which could potentially reach 22,500-22,600. The immediate support level is pegged at 22,000. The focus now turns to the upcoming federal elections in mid-2024, with the expectation that the market will maintain its momentum, undisturbed by global economic uncertainties.
(with inputs from agencies)
