Market Bull Run Continues: Sensex Soars Over 300 Points, Nifty Crosses 20,950
MUMBAI, India – For the third consecutive session, the Indian stock market continued its upward trajectory, with the Sensex surging over 300 points and the Nifty breaching the 20,950 mark. This relentless rally has been attributed to a combination of factors, including strong foreign inflows, positive domestic cues, and a favourable global environment.
The Sensex, the benchmark index of the Bombay Stock Exchange (BSE), opened in the green at 61,553.72 points and continued to gain momentum throughout the day. By the closing bell, the index had climbed 326.60 points, or 0.53%, to settle at 61,879.03 points. This marked the Sensex’s highest closing level since October 4, 2023.
The Nifty50, the benchmark index of the National Stock Exchange (NSE), followed a similar trajectory. The index opened at 20,810.40 points and surged to an intraday high of 20,986.75 points. By the end of the trading session, the Nifty50 had settled at 20,950.20 points, a gain of 138.25 points, or 0.67%.
The market’s buoyant mood was largely driven by strong foreign institutional investor (FII) inflows. FIIs net purchased equity shares worth ₹4,405.94 crore on Tuesday, taking their total net purchase for the week to ₹12,365.48 crore.
On the domestic front, positive economic data and an improving earnings outlook for corporate India also contributed to the market’s bullish sentiment. Latest data showed that the country’s manufacturing sector continued to expand in November, with the Purchasing Managers’ Index (PMI) rising to 55.7 from 55.1 in October.
Furthermore, the global investment community remains optimistic about India’s growth prospects, with several foreign brokerage firms upgrading their earnings estimates for Indian companies. This optimism has been further fueled by expectations of a gradual slowdown in global rate hikes.
Overall, the Indian stock market is expected to continue its bullish run in the near term, supported by strong fundamentals and favorable global conditions. However, investors should remain cautious and avoid chasing stocks without due diligence.
