On Monday, the Sensex closed 167 points higher at 58,297 – its third consecutive session of record high at 58,516. Feather ifNifty too followed a similar record-breaking trajectory and closed the day at a new all-time high of 17,378, up 54 points. Official data showed that so far in 2021, both the Sensex and Nifty have rallied nearly 40 times each in new life-high digits. However, Indian benchmarks still lag behind their US counterparts. For example, the corresponding number for the S&P500 index is 54 times. Last month, the rally got another boost US Fed The Chief said that there is no possibility of raising interest rates in a hurry. As a result, the Sensex added nearly 5,000 points or 9.4%, making India the best-performing stock market in the world.
Domestically, the biggest booster in investor wealth during the current rally since March 2020, as measured by the market capitalization of BSE, came from Reliance Industries Its market value has increased by $ 134 billion to $ 210 billion. Other significant wealth-creators are TCS, which ranges from $110 billion to $191 billion, and Infosys – from $70 billion to $110 billion, official figures show.
according to a report from Motilal Oswal Financial Services (MoFSL), markets are scaling new heights on the back of strong earnings distribution, benign liquidity and bullish sentiments. “Good earnings delivery (during Q1 FY22) has fueled expectations for a solid FY12 with Nifty earnings growth estimated at 30%+ in FY20, strong earnings growth of 15% in FY21 with,” it noted.
Apart from strong corporate earnings, a stablecoin that has been showing an appreciable trend over the past two weeks has also attracted foreign funds in the Indian markets, with net purchases for 2021 exceeding Rs 55,000 crore. CDSL Has shown.
In future, management comments across the board suggest an improved demand environment after June 2021, due to easing of restrictions, less active COVID cases and a pickup in vaccination, noted the MoFSL report.
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