India’s major stock indexes rose during a trading session at noon on Friday, reaching record highs during the day.
Therefore, both the S & P BSE Sensex and NSE Ifty 50 key indices reached record highs.
Sensex surpassed the 59,700 mark and Nifty topped the 17,790 level.
According to market observers, the uptrend is behind a meeting of the GST Council to discuss further Covid bailouts and the inclusion of fuel in the indirect tax system.
Initially, both major indices had gap-up openings.
The Asian market was generally strong, so even stable global cues supported these rises.
By sector, the banking, automotive and durable goods indexes rose, while electricity, metals and utilities fell.
At 11:30 am, the S & P BSE Sensex traded at 59,566.80 points, up 425.64 points or 0.72 percent from the previous closing price.
Similarly, NSE Ifty50 traded higher. It rose to 17,746.95 points, up 117.45 points or 0.67 percent from the previous closing price.
“India’s benchmark index began when the gap opened due to positive global sentiment. Bank stocks lasted after the country’s finance minister announced details of the establishment of Bad Bank. India’s stocks hit a record high today as they expanded their profits from the session. ” Likhita Chepa, Senior Research Analyst, CapitalVia Global Research.
“Traders may gain support as the Reserve Bank of India says inflation is falling faster than expected.”
Deepak Jasani, Head of Retail Research at HDFC Securities, said: .. “
“The advance rate is negative, suggesting pressure on a wider market. Asian equities were mixed on Friday after mixed economy data almost fell on Wall Street.”
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