A sharp rally in the shares of Reliance Industries Ltd (RIL), the country's most-valuable firm, propelled the markets to fresh highs on Wednesday.
The up move was also supported by sustained gains in private sector banks and buying by foreign portfolio investors (FPIs).
The Sensex ended the session at 78,674, gaining 621 points or 0.8 per cent, while the Nifty 50 closed at 23,869, up 147 points or 0.6 per cent. Both the indices ended at fresh record highs for the ninth time this month.
Given the strong upward momentum, experts believe it is only a matter of days before the Sensex and Nifty will hit the 80,000 and 24,000 milestones, respectively.
On a month-to-date basis, both indices have gained 6 per cent, and are on course to post their best monthly gains since December 2023.
هذه القصة مأخوذة من طبعة June 27, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 27, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Finance World's Question To Self: Too Many Regulators Within?
From fintech to urban cooperatives, a host of industry associations have expressed interest in becoming self-regulatory organisations
Mid-year portfolio review: Trim equity exposure after surge
Enhance term cover if liabilities have increased; boost health coverage to match medical inflation
Perils of keeping surplus money in bank accounts
In the 1970s, Jack, a United States (US) citizen, wanted to marry Anna, a citizen of the Communist Soviet Union.
'Government unlikely to choose fiscal profligacy'
\"You will not lose money if you take a medium-to-long-term view of India.But in the short term, I am not comfortable, as the current rally is purely liquidity-driven,\" observes RAJ BHATT, chairman and chief executive officer of Elara Capital. In an interview with Sundar Sethuraman, Bhatt says India stands out globally because of its financial discipline. Edited excerpts:
The quiet achiever: Conservative by nature, bold in returns
UTI Money Market Fund, launched in April 1997, has consistently ranked in the top 30th percentile of the money market fund category in the CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters through March 2024.
Jubilant to deliver extra cheese on value, with slice of pizza recovery
Domino's Indian franchise gains steam as pizza outpaces burger rivals amid shifting market dynamics
They came, they conquered
After World T20 win, Indian cricket begins transition period with Sharma, Kohli and Jadeja announcing retirement from shortest format in international cricket
A milestone on bond street
India's entry into the global bond index is a great sentiment-booster, but much of it has already been factored in
BALANCING ACT
After a challenging year post-merger, HDFC Bank looks poised for a strategic path forward
Window opens to give urban cooperative banks an uplift
In many countries, cooperative credit societies - also known as credit unions - have established significant importance and presence.