The S&P BSE Sensex Index edged up 0.02% to 41,681.54 at the close in Mumbai, achieving its best weekly advance after fluctuating throughout the day. As investors brushed off economic apprehension ahead of the holiday season and the NSE Nifty 50 Index rose 0.1%, HDFC, HDFC Bank, ICICI Bank and Reliance Industries, have managed to reach the peak as well.
Crux of the Matter
Experts suggest the prime reason for this rise as liquidity. When the money is rolling in, investment is needed to be done. Thus Mutual funds are getting a constant stream of inflows through SIPs, while global liquidity has pushed Foreign Portfolio Investors into buying stocks in India.
In other parts of Asia, stocks were mixed in a subdued Friday session on Wall Street. Japan’s Nikkei225 index lost 0.2%, Hong Kong’s Hang Seng index gained 0.25%, China’s Shanghai Composite index lost 0.4% and Korea’s KOSPI index gained 0.35%.
Here in India, the BSE Midcap index gained 0.15% While BSE Smallcap lost 0.03%. The market breadth, indicating the overall health of the market, was positive.
From the strategist’s POV, Prakash Pandey, CEO at Plutus Advisors & Consulting Pvt. in New Delhi, said that “there will be thin volumes, so there’s no point in committing fresh capital” given the big run-up
Curiopedia
BSE SENSEX, known as the S&P Bombay Stock Exchange Sensitive Index, is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on Bombay Stock Exchange. The 30 component companies which are some of the largest and most actively traded stocks, are representative of various industrial sectors of the Indian economy. Published since 1 January 1986, the S&P BSE SENSEX is regarded as the pulse of the domestic stock markets in India. More Info
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