BSE gained 2.04% to Rs 2,338, extending its winning run to four consecutive trading session
Shares of BSE have surged 14.24% in four trading sessions from its previous closing low of Rs 2,046.65 posted on 9 December 2021. The counter hit a record high of Rs 2,370 in intraday today. The stock has zoomed 337% from its 52-week low of Rs 535 recorded on 25 March 2021.Shares of BSE have advanced nearly 57% in one month as compared to a 5% fall in benchmark Nifty 50 index.
The counter saw demand amid media buzz that its rival National Stock Exchange of India (NSE) is inching close to an initial public offering (IPO). Market participants are expecting NSE's valuation to be around Rs 2 lakh crore. NSE's IPO could lead to sharp re-rating in shares of BSE .
On the technical front, the stock's RSI (relative strength index) stood at 85.998. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1546.11, 1366.33 and 1062.80 respectively.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia's first stock exchange. BSE plays a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base.
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The company posted a 36.8% rise in consolidated net profit to Rs 63 crore in Q2 FY22 from Rs 46 crore posted in Q2 FY21. Revenue from operations increased by 50.4% to Rs 188.7 crore in Q2 FY22 from Rs 125.4 crore posted in Q2 FY21.
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