Sensex hits record on Modi reforms
The benchmark stock indices BSE Sensex and Nifty rose nearly 1% to a record high on Thursday despite the US Federal Reserve annoucing the end of its economic stimulus programme, which has unleashed a barrage of funds in Indian stock markets in the last few years.
How much did the indices rise?
The 30-share Sensex surged 248 points to end at new peak of 27,346.33, extending gains for the third day. The 50-share index ended higher by 78.75 points at 8,169.20 on Thursday after hitting an all-time intra-day high of 8,181.55.
Which stocks rose the most?
The Nifty has gained nearly 31% in US dollar terms so far this year to remain Asia’s best performing equity index, helped by optimism tied to the election of Narendra Modi as prime minister.
What did the foreign investors do?
Overseas investors pumped in a net Rs 785.61 crore on Wednesday, as per provisional data issued by stock exchanges. They net sold $11.6 million of Indian stocks on October 28, the first outflow in five days.
How much has been the rise this year?
The Sensex has increased 29% this year, the best performer among the world’s 10 biggest markets, and is valued at 15.6 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s multiple of 10.8. The Nifty has risen by 31% this year so far.
Why the record surge in stocks?
Brokers said fresh dose of capital inflows, good corporate earnings and rating agency Moody’s favourable report on rating profile of India also boosted buying as investors bought shares across-the-board.
Which sectors led the gains?
Gains were led by Realty, IT, Teck and Consumer Durables as 1,586 shares ended higher on BSE, pushing up investor wealth to over Rs 95.35 lakh crore.
Why did software makers rise?
Exporters led the gains on the Fed’s increased optimism about the US economy, with Infosys ending up 1.7% while Tata Consultancy Services gained 2.1%.
What are future levers?
The Reserve Bank of India’s efforts to contain inflation have also improved confidence. Hopes are now rising that the RBI will be able to ease monetary policy as early as its next meeting in December given a slowdown in consumer price growth.
Which were the biggest gainers?
Unitech rose 8.1% and DLF gained 5.1% on FDI easing in the construction sector. Reliance Industries also rose 2.9%
How did the firms posting results fare?
ICICI Bank rose 0.5% after posting a record profit in July-Sept, Maruti Suzuki India rose 1.1% while Dr Reddy’s Labs rose 1.6%.
The benchmark stock indices BSE Sensex and Nifty rose nearly 1% to a record high on Thursday despite the US Federal Reserve annoucing the end of its economic stimulus programme, which has unleashed a barrage of funds in Indian stock markets in the last few years.
How much did the indices rise?
The 30-share Sensex surged 248 points to end at new peak of 27,346.33, extending gains for the third day. The 50-share index ended higher by 78.75 points at 8,169.20 on Thursday after hitting an all-time intra-day high of 8,181.55.
Which stocks rose the most?
The Nifty has gained nearly 31% in US dollar terms so far this year to remain Asia’s best performing equity index, helped by optimism tied to the election of Narendra Modi as prime minister.
What did the foreign investors do?
Overseas investors pumped in a net Rs 785.61 crore on Wednesday, as per provisional data issued by stock exchanges. They net sold $11.6 million of Indian stocks on October 28, the first outflow in five days.
How much has been the rise this year?
The Sensex has increased 29% this year, the best performer among the world’s 10 biggest markets, and is valued at 15.6 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s multiple of 10.8. The Nifty has risen by 31% this year so far.
Why the record surge in stocks?
Brokers said fresh dose of capital inflows, good corporate earnings and rating agency Moody’s favourable report on rating profile of India also boosted buying as investors bought shares across-the-board.
Which sectors led the gains?
Gains were led by Realty, IT, Teck and Consumer Durables as 1,586 shares ended higher on BSE, pushing up investor wealth to over Rs 95.35 lakh crore.
Why did software makers rise?
Exporters led the gains on the Fed’s increased optimism about the US economy, with Infosys ending up 1.7% while Tata Consultancy Services gained 2.1%.
What are future levers?
The Reserve Bank of India’s efforts to contain inflation have also improved confidence. Hopes are now rising that the RBI will be able to ease monetary policy as early as its next meeting in December given a slowdown in consumer price growth.
Which were the biggest gainers?
Unitech rose 8.1% and DLF gained 5.1% on FDI easing in the construction sector. Reliance Industries also rose 2.9%
How did the firms posting results fare?
ICICI Bank rose 0.5% after posting a record profit in July-Sept, Maruti Suzuki India rose 1.1% while Dr Reddy’s Labs rose 1.6%.
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