IGI Logo

Below the Quote on Market Closing Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker

Driven by sector-specific tailwinds and expectations of Q4 earnings growth, Nifty50 began the week on a robust note, steadily increasing throughout the day to reach a new high of 22,666.30, marking a gain of 152.60 points. Similarly, the Sensex also saw an uptick, rising by 494.28 points or 0.67 percent to close at 74,742.50. This surge propelled the combined market capitalization of all BSE-listed stocks by Rs 1.3 lakh crore, surpassing the Rs 400 lakh crore milestone for the first time, primarily driven by gains in blue-chip stocks.

As the index edges closer to the upper boundary of the rising wedge, it may encounter resistance in the short term. On the global front, investors are eagerly awaiting the release of US CPI and UK GDP data, particularly following the strong US job data release.

Above views are of the author and not of the website kindly read disclaimer