New Delhi: Both Indian indices – Sensex And Nifty- continued its uptrend on Wednesday as well and managed to close at new life-time high.
Continuing its rally for the fifth day in a row, the 30-share BSE The Sensex touched a new milestone by closing at a record high of 67,097.44, up 302.30 points or 0.45 per cent. In a notable jump, it also gained its all-time intra-day peak of 67,171.38, up 376.24 points, or 0.56 per cent, during the day.
Similarly, nse Nifty showed a positive trend, rising 83.90 points or 0.42 per cent to hit an all-time high of 19,833.15. Displaying a strong performance, it also touched a new record intra-day high of 19,851.70, up 102.45 points or 0.51 per cent.
Aided by broad sectoral gains and information technology (IT) stocks, the BSE benchmark Sensex surged to close above the 67,000-mark for the first time.
Over the past few seasons, IT firmwhich generate a substantial portion of their revenue from the United States and Europe, experienced a significant increase in stock prices. The uptick can be attributed to market optimism regarding the possible approach of the US Federal Reserve to conclude its monetary policy tightening cycle.
In the past one month, the Sensex has gained nearly 4,000 months on a closing basis, mainly led by technology stocks. Official data shows that this gain was due to purchases by foreign funds to the tune of about Rs 40,000 crore.
The recent surge in Indian stock prices can be attributed to several factors, including steady inflow of foreign portfolio funds, positive economic outlook, strong global markets and relative ease in inflation.
In the last five months, foreign portfolio investors (FPIs) maintained their position as net buyers in the Indian stock markets. Data from the National Securities Depository (NSDL) shows that FPIs have consistently bought Indian stocks during this period.
In March, April, May and June, FPIs bought shares worth Rs 7,936 crore, Rs 11,631 crore, Rs 43,838 crore and Rs 47,148 crore, respectively. This trend continues in July as well, with FPIs already buying equities worth Rs 34,444 crore.
The unwavering interest of foreign investors in Indian stocks reflects their faith in the country’s economic prospects. With the positive performance of the global markets, the bullish sentiment in the Indian stock market has further strengthened.
Besides, relative moderation in inflation has provided additional support to the current uptrend. With inflation under control, investors are more willing to participate in the stock market in anticipation of favorable returns.
(with inputs from agencies)
Continuing its rally for the fifth day in a row, the 30-share BSE The Sensex touched a new milestone by closing at a record high of 67,097.44, up 302.30 points or 0.45 per cent. In a notable jump, it also gained its all-time intra-day peak of 67,171.38, up 376.24 points, or 0.56 per cent, during the day.
Similarly, nse Nifty showed a positive trend, rising 83.90 points or 0.42 per cent to hit an all-time high of 19,833.15. Displaying a strong performance, it also touched a new record intra-day high of 19,851.70, up 102.45 points or 0.51 per cent.
Aided by broad sectoral gains and information technology (IT) stocks, the BSE benchmark Sensex surged to close above the 67,000-mark for the first time.
Over the past few seasons, IT firmwhich generate a substantial portion of their revenue from the United States and Europe, experienced a significant increase in stock prices. The uptick can be attributed to market optimism regarding the possible approach of the US Federal Reserve to conclude its monetary policy tightening cycle.
In the past one month, the Sensex has gained nearly 4,000 months on a closing basis, mainly led by technology stocks. Official data shows that this gain was due to purchases by foreign funds to the tune of about Rs 40,000 crore.
The recent surge in Indian stock prices can be attributed to several factors, including steady inflow of foreign portfolio funds, positive economic outlook, strong global markets and relative ease in inflation.
In the last five months, foreign portfolio investors (FPIs) maintained their position as net buyers in the Indian stock markets. Data from the National Securities Depository (NSDL) shows that FPIs have consistently bought Indian stocks during this period.
In March, April, May and June, FPIs bought shares worth Rs 7,936 crore, Rs 11,631 crore, Rs 43,838 crore and Rs 47,148 crore, respectively. This trend continues in July as well, with FPIs already buying equities worth Rs 34,444 crore.
The unwavering interest of foreign investors in Indian stocks reflects their faith in the country’s economic prospects. With the positive performance of the global markets, the bullish sentiment in the Indian stock market has further strengthened.
Besides, relative moderation in inflation has provided additional support to the current uptrend. With inflation under control, investors are more willing to participate in the stock market in anticipation of favorable returns.
(with inputs from agencies)