Gains among banking stocks have helped the main Nifty index rise over 19% so far this month
After a subdued performance for most part of the year, Indian equities are entering Samvat 2077 at record highs.
Extending its winning streak for the seventh straight session, equity benchmark Sensex soared 680 points to scale another lifetime high on Tuesday, tracking a global market rally driven by Pfizer's COVID-19 vaccine trials data. After touching its lifetime peak of 43,316.44 during the day, the 30-share BSE index ended 680.22 points or 1.60 per cent higher at 43,277.65. The broader NSE Nifty too touched a fresh intra-day high of 12,643.90. It ended at 12,631.10, up 170.05 points or 1.36 per cent. Bajaj Finance was the top gainer in the Sensex pack, surging around 9 per cent, followed by IndusInd Bank, L&T, Bajaj Finserv, HDFC, SBI, ICICI Bank, HDFC Bank, ONGC and Axis Bank. On the other hand, Tech Mahindra, HCL Tech, Infosys, Nestle India, Sun Pharma and TCS closed in the red. "Announcements by BioNTech and Pfizer about successful phase 3 trial of COVID-19 vaccine instilled confidence among investors and possibility of sustained economic recovery led sharp buying in beaten down ...
But about half the Nifty50 stocks still trading below January levels
The Bombay High Court refused to grant interim bail to TV journalist Arnab Goswami.
While the index is almost back to pre-Covid highs, the stock prices for over half of its components are still below their February 20 levels
Analysts say high P/B and drop in RoE a worrying sign
The last time the Sensex had gained for nine straight sessions was in April 2018
The benchmark S&P BSE Sensex rallied nearly 10 per cent in the past 10 trading sessions and regained the psychological 40,000-mark after over seven months
Stocks markets are expected to continue their winning run in the short-term driven by hopes of more stimulus measures
Optimism around economic revival, stimulus propel markets
There was, however, a mixed trend overseas after US President Donald Trump dashed hopes of a pre-election stimulus package
While a low fee is alluring, ensure you can trust the broker with your money and securities
The rebound has been helped by foreign investors, who have bought a net $4 billion worth of Indian stocks this year
According to reports, the Narendra Modi government is just weeks away from announcing another round of stimulus measures ahead of the festive season.
Index has rallied close to 50% from its March lows even as underlying EPS has fallen about 20%
In the past six months, Nifty has gained 52 per cent in rupee terms and 58 per cent in dollar value - making India one of the best-performing markets globally
Rising Covid cases, ICIJ report rattle investors; Dow slips about 3 per cent
Though the rally has eased slightly, the m-cap is only 1% shy of a record, despite Nifty being down 6% from its all-time high reached in January
On Friday, equities posted their biggest weekly drop since May, with the benchmark Sensex and Nifty dropping nearly 3 per cent amid a sharp sell-off in technology stocks in the US