Sensex Rises for Fourth Day, Registers Third Highest Closing

Indian markets stretched out increases to the fourth day yesterday with Sensex closing over the significant level of 40,000. Greater than expected corporate profits from some bleeding edge organizations and desires of tax realignment on equities have lifted the slant in Indian markets.

Crux of the Matter

1. This marks Sensex’s third highest close ever, with the highest being recorder on 3rd June 2019.

2. It gained 220.3 points to end at 40,051 points.

3. Sensex is now just 260 points away from record high.

4. “Bulls continue to dominate as the index heads higher. We continue with our bullish stance on the nifty and believe index is likely to test and hit new all-time highs. Any dip near the support zone should be a buying opportunity. Markets are much healthier than before as the participation is broader unlike the previous phase when nifty had hit all-time highs,” Amit Shah, Technical Research Analyst with Indiabulls Ventures said.

Curiopedia

SENSEX 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. Read More

Curated Coverage

1. Livemint – Sensex registers third highest close ever as it rises for 4th day

2. Financial Express – Stock markets extend gains to 4th day; Sensex tops 40,000; key reasons

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