Investor wealth rises with ₹ 4 lakh crore in two days of market rally to reach all time highs ₹ 2.54,21,578.88 Crore.
The market was closed at a new height on Friday, with Sensex BSE get 277.41 points or 0.48 percent to end the day above 58,000 for the first time. Nifty also rose 89 points or 0.52 percent to close at 17,324.
Investor wealth rises with ₹ 4 lakh crore in two days of market rally to reach all time highs ₹ 2.54,21,578.88 Crore.
In the previous session, BSE Sensex has gained 514.33 points or 0.90 percent.
So the factors that drive a surge?
Analysts believe they are five main factors behind the sensex and nifty increase. These are: strong income reported by the company, reopening the business as a second wave of receding, a record of vaccination, hope to delay the purchase of US asset assets and a strong purchasing manager index (PMI) and a healthy GST figure.
“Comment on the US Fed chairman that the US central bank would not be in a hurry to raise interest rates supported by the global market. The Indian market receives further support from the increase in vaccination speed and GST collection July 2020,” Shrikant Chouhan said, executive vice president. , Technical research equity, box securities.
How sustainable is this surge?
According to analysts, it is now a bull market and this can usually surprise on the positive side. However, some of them said that the trajectory could slow down in the second half of the financial year, while others still estimate correction.
“The market is currently a little discounted from income stories, and the safety margin increasingly reduces; every disappointment in the profit front, because the recovery of demand is slower than the estimated or higher margin pressure, it can lead to contractions in market assessment,” Unmesh Kulkarni, MD and Senior Advisor, Julius Baer India, told the PTI news agency.
BSE benchmark on August 31 scale 57,000 mark for the first time. It jumped more than 9 percent last month.
Reliance Industries is the largest enhancer in the Sensex package on Friday, with more than 4 percent profits, followed by Titan, Steel Tata, Cat Asia and Maruti.
Hindustan Unilever Limited (Hul) and Bharti Airtel are between slow.