oppn parties Stock Indices Scale New Closing Heights

Story Of The Day

Assessee Not Responsible For Ensuring TDS Is Paid To The Government: Delhi HC
OPINIONS : Strongly Expressed

January 22, 2025

People Are Talking About

Rohit Warns Sarfaraz, Police Use It To Warn Two-Wheeler Riders

News Snippets

  • Sikh extremists attacked a cinema hall in London that was playing Kangana Ranaut's controversial film 'Emergency'
  • A Delhi court directed the investigating agencies to senstize officers to collect nail clippings, fingernail scrappings or finger swab in order to get DNA profile as direct evidence of sexual attack is often not present and might result in an offender going scot free
  • Uniform Civil Code rules cleared by state cabinet, likely to be implemented in the next 10 days
  • Supreme Court reiterates that there is no point in arresting the accused after the chargesheet has been filed and the investigation is complete
  • Kolkata court sentences Sanjoy Roy, the sole accused in the R G Kar rape-murder case, to life term. West Bengal government and CBI to appeal in HC for the death penalty
  • Supreme Court stays criminal defamation case against Rahul Gandhi for his remarks against home minister Amit Shah in Jharkhand during the AICC plenary session
  • Government reviews import basket to align it with the policies of the Trump administration
  • NCLT orders liquidation of GoAir airlines
  • Archery - Indian archers bagged 2 silver in Nimes Archery tournament in France
  • Stocks make impressive gain on Monday - Sensex adds 454 points to 77073 and Nifty 141 points to 23344
  • D Gukesh draws with Fabiano Caruana in the Tata Steel chess tournament in the Netherlands
  • Women's U-19 T20 WC - In a stunning game, debutants Nigeria beat New Zealand by 2 runs
  • Rohit Sharma to play under Ajinkye Rahane in Mumbai's Ranji match against J&K
  • Virat Kohli to play in Delhi's last group Ranji trophy match against Saurashtra. This will be his first Ranji match in 12 years
  • The toll in the Rajouri mystery illness case rose to 17 even as the Centre sent a team to study the situation
Calling the case not 'rarest of rare', a court in Kolkata sentenced Sanjay Roy, the only accused in the R G Kar rape-murder case to life in prison until death
oppn parties
Stock Indices Scale New Closing Heights

By Linus Garg
First publised on 2024-04-11 03:31:30

About the Author

Sunil Garodia Linus tackles things head-on. He takes sides in his analysis and it fits excellently with our editorial policy. No 'maybe's' and 'allegedly' for him, only things in black and white.

The stock indices in India - Nifty and Sensex - breached an important psychological barrier on Tuesday and Wednesday. On Tuesday, both indices achieved new life-time highs in intra-day trading. The Sensex breached the 75000 barrier and the Nifty 22750 but they closed lower due to profit-taking in closing trades. But the momentum was too strong and on Wednesday, buyers emerged to push back the sellers and Sensex gained 354 points to close at 75038 and Nifty 111 points to end at 22754, the first time ever that the indices had closed above 75000 and 22750.

With reports of inflation picking up in the US reducing the chances of an early rate cut by the US Fed, this rally in Indian markets is going to continue. On Wednesday too, foreign funds were more active than domestic ones. The BSE market capitalization stood at Rs 402 lakh crore at the close of Wednesday's trading, another life-time high. The Sensex was 25000 in 2015 and has trebled in just a little over 9 years.

The rally in the market is due to a host of factors - upbeat domestic growth figures, rising rural demand, good earnings in several sectors, a huge jump in new retail investors, a general perception that the Indian economy is resilient and the best bet for growth in a situation where other economies, including that of China, are reporting slowdowns, and foreign funds' continued support as US interest rates are not likely to be reduced anytime soon.

On Wednesday, although the Indian markets rose to scale new heights, they could not match the bull run at their Asian peers. Metal shares rose on the day to propel the indices. The Indian markets will remain closed today (April 11) due to Id Ul Fitr but the Asian markets (except Shanghai) are all enjoying an extended rally. Hence, is is safe to assume that the rally in the Indian markets will continue on Friday if foreign funds remain net buyers and there is no inordinately high level of profit-taking. 

Other Stories You Make Like

Editorials

Turmoil In Mollywood

Turmoil In Mollywood

NDA 3.0: Coalition Dharma

NDA 3.0: Coalition Dharma

In Depth

Supreme Court Gets Strict On Child Pornography

Supreme Court Gets Strict On Child Pornography

Editor's Pick

Budapest Chess Olympiad: India Are World Team Champions

Budapest Chess Olympiad: India Are World Team Champions
© 2014 India Commentary. All rights reserved.