Mumbai: Leading for the seventh consecutive season, Sensex Monday ended 460 points higher at 61,766 near the 62k mark, which is a new life-high. In a one-way move since October 6, the index has gained nearly 1,600 points, or 2.7% as muted foreign activity, continued buying despite rising crude prices, a looming power crisis And weak economic data from China.
India’s market capitalization rose to around Rs 277.3 lakh crore in the day’s session, which translates to $3.7 trillion – also a life-high figure. Foreign portfolio investors (FPIs) have net purchases of Indian stocks worth around Rs 730 crore this month, data showed BSE And CDSL Has shown. In contrast, net purchases by FPIs stood at Rs 13,154 crore in September. In the past few weeks, there has been talk of a possible power crisis in India due to the lack of coal stocks with power producers. Analysts said that in the past two days, however, the problem was relieved given the unseasonal returns.
Globally, recent data showed crude oil prices are at nearly seven-year highs, mainly due to rising demand as natural gas supplies have fallen of late. On Monday evening, WTI crude was trading at more than $ 82 a barrel while Brent crude was trading near $ 84.5. The day China announced that for the quarter ended September, the world’s second-largest economy grew at 4.9%, compared to an estimated 5.1% and 7.9% a year ago.
While global factors posted limited gains in markets outside India, the domestic market continued to scale new heights, primarily supported by strong corporate results.
According to Religare Broking VP (Research) Ajit Mishra, in the absence of any major events, the focus will remain on earnings and “we have a long list of major major indices announcing their results this week”. Management comments from participants will be closely monitored for future growth outlook. “Global signals will also be on investors’ radar,” Mishra wrote in a post-market note.
India’s market capitalization rose to around Rs 277.3 lakh crore in the day’s session, which translates to $3.7 trillion – also a life-high figure. Foreign portfolio investors (FPIs) have net purchases of Indian stocks worth around Rs 730 crore this month, data showed BSE And CDSL Has shown. In contrast, net purchases by FPIs stood at Rs 13,154 crore in September. In the past few weeks, there has been talk of a possible power crisis in India due to the lack of coal stocks with power producers. Analysts said that in the past two days, however, the problem was relieved given the unseasonal returns.
Globally, recent data showed crude oil prices are at nearly seven-year highs, mainly due to rising demand as natural gas supplies have fallen of late. On Monday evening, WTI crude was trading at more than $ 82 a barrel while Brent crude was trading near $ 84.5. The day China announced that for the quarter ended September, the world’s second-largest economy grew at 4.9%, compared to an estimated 5.1% and 7.9% a year ago.
While global factors posted limited gains in markets outside India, the domestic market continued to scale new heights, primarily supported by strong corporate results.
According to Religare Broking VP (Research) Ajit Mishra, in the absence of any major events, the focus will remain on earnings and “we have a long list of major major indices announcing their results this week”. Management comments from participants will be closely monitored for future growth outlook. “Global signals will also be on investors’ radar,” Mishra wrote in a post-market note.
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