in ,

BSE Sensex jumps 600 points to record high of 74,869. Time to invest?

Ziraat Times Team Report

Mumbai: Indian equity benchmarks scaled their fresh lifetime peaks in Monday’s trade. The 30-share BSE Sensex pack jumped over 600 points to hit a record high of 74,869. It eventually settled 494 points or 0.67 per cent higher at 74,742. The broader NSE Nifty index moved more than 180 points to touch 22,697 level for the first time ever. The pack finally closed 153 points or 0.68 per cent up at 22,666.

Such was the rise in the domestic bourses that more than Rs 1.5 lakh crore of BSE market capitalisation (m-cap) was generated. Investor wealth, as suggested by the BSE m-cap, rose Rs 1.54 lakh crore to Rs 400.86 lakh crore compared with a valuation of Rs 399.31 lakh crore recorded in the previous session.


Auto, energy & realty stocks surge

10 out of the 15 sector gauges — compiled by the NSE — were trading in the green. Sub-indexes Nifty Auto, Nifty Oil & Gas and Nifty Realty outperformed the NSE platform by rising as much as 1.81 per cent, 1.07 per cent and 1.70 per cent, respectively.

FII-DII data

Foreign institutional investors (FIIs) bought Indian shares worth Rs 1,659.27 crore on a net basis during the previous session while domestic institutional investors (DIIs) sold shares worth Rs 3,370.42 crore.

Risk factor

Easing expectations of a US rate cut in June could weigh on sentiment. Asian markets were subdued after another blowout US jobs report dampened expectations of a Federal Reserve rate cut in June.

Is it time to invest?

Even as the present rally is likely to presist in the event there is no major negative  international events, analysts suggest to wait and watch until the Lok Sabha elections are over. On the other hand, there are some investors who forsee certain bourses to go up further after the elections and hence an opportune time to invest in the pre election era.


Leave a Reply

Your email address will not be published. Required fields are marked *



Doodhganga ‘unsafe water’ controversy: Water Works Division, Srinagar, issues clarification

As GI tag of Kashmir handicrafts enthuse artisans; production, exports surge