5 Reasons Why Sensex Ended 1,128 Points Higher Today

Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

Benchmark indices witnessed sharp gains today with Sensex touching an intraday high of 50,172 and Nifty rising above 14,850-levels.

At the closing bell, the BSE Sensex stood higher by 1,128 points (up 2.3%).

Meanwhile, the NSE Nifty closed higher by 337 points (up 2.3%).

UPL and JSW Steel were among the top gainers today.

Hindalco and Axis Bank, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,939, up by 188 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1% and 1.3%, respectively.

On the sectoral front, gains were largely seen in the metal sector, IT sector, and healthcare sector.

The rupee is trading at 73.42 against the US$.

Gold prices for the latest contract on MCX are trading up by 1.4% at Rs 44,178 per 10 grams.

Also, speaking of the ongoing volatility in Indian stock markets, have a look at the two charts below, in the order, they have been placed:

Near Term Volatility in Sensex Compensated by Long Term Gains

 

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

Here are Top 5 Factors Why the Stock Market Were Up Today:

US Fed Maintains Dovish Stance: The Federal Reserve is "a long way from raising interest rates at this point", Governor Christopher Waller said on Monday, reinforcing hopes that the central bank is ready to remain dovish as long as coronavirus woes linger.

Mutual Fund Buying Hopes: Market participants are of the belief that in a remaining couple of days of the current fiscal year, mutual fund managers will step up their stock buying to make sure the net asset value (NAVs) of their respective funds end on a higher note and this is fueling optimism in the stock markets.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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