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Sensex has registered its sharpest 4-day rally in the last four years to gain nearly 10% on Tuesday after foreign investors have bought more than Rs 4,500 crore equity shares.
Today, the S&P BSE Sensex has surged 727 points to close at 19,997, rallied 1,762 points in the past four trading days since September 4, reporting its highest rise since May 2009. The NSE CNX Nifty closed at 5,897 has surged 555 points during the period.
Foreign institutional investors (FIIs) have pumped in close to Rs 4,640 crore in the Indian eqioty markets since September 04.
“Markets up move continued today after due to favourable trade data, which fell almost 11% month on month to $10.9 bn, which is also sharply lower than ~$20 Bn recorded in June of this year. Moreover, indications of reduced tension in Syria also helped market today. Financials again performed today with Bank Nifty moving up by ~2.25%. Bank nifty has now moved up by ~11.5% in last 5 trading sessions. Attractive valuations in banks after ~20% cut in the month of July and August helped bank nifty to show this performance,” said Rakesh Tarway AVP Research Motilal Oswal Securities.
Earlier in 2009, between May 15 and 19, in three trading sessions, the Sensex had gained 2,429 points after the Congress led UPA-II came back into power.
ICICI Bank (251 points) and ITC (215 points) have contributed over one-fourth or 466 points of total Sensex rally. HDFC, HDFC Bank, Reliance Industries, Tata Motors, Larsen and Toubro and ONGC, which contributed more than 100 points each, have collectively accounts 811 points of the market surge.
A potentially positive development in Syria continued strengthening of the rupee against the US dollar and better than expected trade deficit data saw the Nifty closes at highest level since July 25.
Last week, the Reserve Bank of India (RBI) announced a slew of measures to benefit retail investors and revive the Indian economy.
On September 4, the new RBI governor announced measures such as liberalisation of the financial market by enhancing the limits for exporters to re-book cancelled forward exchange contracts and opening a special concessional window for swapping foreign currency non-resident (FCNR) deposits and dollar funds to support the rupee.
The rupee closed at 63.84 today against the dollar at the Interbank Foreign Exchange, has appreciated over 5.7% in past four trading sessions.
The foreign institutional investors (FIIs) have made net investments of Rs 2,075 crore since September 4, according to provisional data released by the stock exchanges.
A revival in exports accompanied by a compression in imports (especially in gold) could help the trade deficit reduce to the $10-12 billion per month level over the next few months. This is essential for the stabilization of the rupee, since the capital flow environment will get tougher as US interest rates rise and the Fed tapering reduces risk appetite, according to analyst at Bank of America Merrill Lynch.
Investors gained over Rs 5 lakh crore market wealth in past four trading days. Total market capitalisation of actively traded stocks on BSE has increased by Rs 5.03-lakh crore to Rs 6,446,263 crore.
Today, the S&P BSE Sensex has surged 727 points to close at 19,997, rallied 1,762 points in the past four trading days since September 4, reporting its highest rise since May 2009. The NSE CNX Nifty closed at 5,897 has surged 555 points during the period.
Foreign institutional investors (FIIs) have pumped in close to Rs 4,640 crore in the Indian eqioty markets since September 04.
“Markets up move continued today after due to favourable trade data, which fell almost 11% month on month to $10.9 bn, which is also sharply lower than ~$20 Bn recorded in June of this year. Moreover, indications of reduced tension in Syria also helped market today. Financials again performed today with Bank Nifty moving up by ~2.25%. Bank nifty has now moved up by ~11.5% in last 5 trading sessions. Attractive valuations in banks after ~20% cut in the month of July and August helped bank nifty to show this performance,” said Rakesh Tarway AVP Research Motilal Oswal Securities.
Earlier in 2009, between May 15 and 19, in three trading sessions, the Sensex had gained 2,429 points after the Congress led UPA-II came back into power.
ICICI Bank (251 points) and ITC (215 points) have contributed over one-fourth or 466 points of total Sensex rally. HDFC, HDFC Bank, Reliance Industries, Tata Motors, Larsen and Toubro and ONGC, which contributed more than 100 points each, have collectively accounts 811 points of the market surge.
A potentially positive development in Syria continued strengthening of the rupee against the US dollar and better than expected trade deficit data saw the Nifty closes at highest level since July 25.
Last week, the Reserve Bank of India (RBI) announced a slew of measures to benefit retail investors and revive the Indian economy.
On September 4, the new RBI governor announced measures such as liberalisation of the financial market by enhancing the limits for exporters to re-book cancelled forward exchange contracts and opening a special concessional window for swapping foreign currency non-resident (FCNR) deposits and dollar funds to support the rupee.
The rupee closed at 63.84 today against the dollar at the Interbank Foreign Exchange, has appreciated over 5.7% in past four trading sessions.
The foreign institutional investors (FIIs) have made net investments of Rs 2,075 crore since September 4, according to provisional data released by the stock exchanges.
A revival in exports accompanied by a compression in imports (especially in gold) could help the trade deficit reduce to the $10-12 billion per month level over the next few months. This is essential for the stabilization of the rupee, since the capital flow environment will get tougher as US interest rates rise and the Fed tapering reduces risk appetite, according to analyst at Bank of America Merrill Lynch.
Investors gained over Rs 5 lakh crore market wealth in past four trading days. Total market capitalisation of actively traded stocks on BSE has increased by Rs 5.03-lakh crore to Rs 6,446,263 crore.
| TOP GAINERS | |||
| Company | 3-Sep-13 | 10-Sep-13 | %chg |
| Dr Datsons Labs | 32.15 | 55.90 | 73.87 |
| Wockhardt | 451.35 | 616.50 | 36.59 |
| Yes Bank | 229.40 | 306.70 | 33.70 |
| Engineers India | 130.90 | 170.40 | 30.18 |
| Financial Technologies | 112.10 | 144.44 | 28.85 |
| JP Power Ventures | 12.55 | 16.13 | 28.53 |
| Axis Bank | 782.65 | 998.10 | 27.53 |
| United Brew Holdings | 21.45 | 27.25 | 27.04 |
| Onelife Capital Advisors | 209.00 | 263.14 | 25.90 |
| Indiabulls Power | 5.69 | 7.13 | 25.31 |
| Price on BSE in Rs | |||
| Data complied by BS Research | |||
