A terrific Thursday for sure on D-Street! Bulls not just held onto the momentum but also broke above crucial resistance levels which is a positive sign.
The S&P BSE Sensex rallied more than 400 points while the Nifty50 closed with gains of over 100 points
The final tally on D-Street – the S&P BSE Sensex rose 453 points to 39,052 while the Nifty50 closed 122 points higher at 11,586, just a shade below 11600 levels.
Investors' wealth in terms of average market capitalisation on the BSE rose by Rs 1.57 lakh crore on Thursday to Rs 147.88 lakh cr compared to Rs 146.31 lakh cr seen on Wednesday, BSE data showed.
What led to optimism? Well, global cues turn favourable after Brexit Deal, and on the domestic front optimism over a recovery in the economy led by hopes of further stimulus, recovery in festive demand, good monsoon and lower interest rate kept sentiments upbeat, suggest experts.
Adding to the optimism – FIIs have also been net buyers for the past 4 trading sessions and have poured in more than Rs 2000 cr in Indian equity markets since October 11, provisional data showed.