Sensex scaled 75,000 today, which fuelled the rally. Santosh Meena, Head of Research at Swastika Investmart Ltd, said, “Several factors contributed to this market rally. Central banks around the world have implemented interest rate cuts, while governments have enacted fiscal stimulus packages to bolster their economies during the Covid-19 crisis. This strategy has proved effective, leading to a robust economic recovery in India. Currently, India boasts the fastest-growing economy globally, with a promising future fuelled by political stability. We appear to be in the midst of a major bull market, which is likely to persist for the next few years. The Sensex reaching 100,000 seems like a realistic possibility in the near future. However, investors should prioritise quality stocks, while maintaining a long-term investment approach.”
Major gainers on the NSE at noon were Hindalco (2.99%), Apollo Hospitals (2.63%), Tata Steel (2.63%), ICICI Bank (2.25%), Infosys (1.87%). Major losers include Coal India (-1.41%), Hero MotoCorp (-0.78%), Tata Consumers (-0.76%), Reliance (-0.60%),and Asian Paints (-0.55%).
The BSE Smallcap was down by 0.25 per cent and the Midcap was down by 0.46 percent. Read more:
