Sensex registered its longest 8-day rally in the last almost two-years to close a record high on expectation of domestic recovery and strong buying from overseas investors.
Today, the BSE Sensex has surged 125 points to close at 26,272, rallied 1,265 points in the past eight trading days between July 15 and July 24. The National Stock Exchange (NSE) S&P CNX Nifty closed at 7,831 has surged 376 points during the period. Both the indices close at their respective lifetime highs.
Earlier, between September 6 and September 17, in nine trading sessions, the Sensex had recorded 1,229 points gain, while Nifty rose 384 points during the period.
The new government is taking serious efforts to stabilise the economy. Further, markets were also lead by improvement in global economy with better economic number, says analyst at Angel Broking.
The foreign institutional investors (FII) have net bought close to Rs 5,000 crore in past six trading sessions till yesterday, the stock exchange data shows.
The banking and metal sector are the largest contributor in the current rally, gained 7.5% and 7% respectively, followed by information technology (6%) and consumer durables and realty index up 5% each.
Top five companies – ICICI Bank, Reliance Industries, Tata Consultancy Services (TCS), Housing Development Finance Company (HDFC) and Infosys have contributed a combined 659 points or 52% to the 1,265-points rally in the Sensex.
Today, the BSE Sensex has surged 125 points to close at 26,272, rallied 1,265 points in the past eight trading days between July 15 and July 24. The National Stock Exchange (NSE) S&P CNX Nifty closed at 7,831 has surged 376 points during the period. Both the indices close at their respective lifetime highs.
Earlier, between September 6 and September 17, in nine trading sessions, the Sensex had recorded 1,229 points gain, while Nifty rose 384 points during the period.
The new government is taking serious efforts to stabilise the economy. Further, markets were also lead by improvement in global economy with better economic number, says analyst at Angel Broking.
The foreign institutional investors (FII) have net bought close to Rs 5,000 crore in past six trading sessions till yesterday, the stock exchange data shows.
The banking and metal sector are the largest contributor in the current rally, gained 7.5% and 7% respectively, followed by information technology (6%) and consumer durables and realty index up 5% each.
Top five companies – ICICI Bank, Reliance Industries, Tata Consultancy Services (TCS), Housing Development Finance Company (HDFC) and Infosys have contributed a combined 659 points or 52% to the 1,265-points rally in the Sensex.
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