In Friday's trade, domestic equities rose sharply for the third straight day, reaching new all-time highs. Gains in every industry contributed to the enormous increase. The wider NSE Nifty index rose 517 points to a top of 23,339, while the 30-share BSE Sensex pack surged more than 1,700 points to a new high of 76,795. The growth of the domestic bourses was so great that the BSE's market capitalization (m-cap) increased by almost Rs 7.5 lakh crore.
The indexes rose as buying interest was placed in a few heavyweights, including Infosys Ltd., Reliance Industries Ltd., HDFC Bank, ICICI Bank, Bajaj Finance, Airtel, TCS, and Axis Bank. Investor mood was raised after the Reserve Bank of India (RBI) increased its growth projections for the current fiscal year to 7.2% in its bi-monthly policy. Nonetheless, the Reserve Bank maintained the 6.5% benchmark interest rate. The outcome of the general election was also forgotten by market players, who were waiting for a coalition administration to be formed.
Here is a Glimpse at the Market Increase in Numbers for Today:
Wealth of investors increases by Rs 7.5 lakh crore. According to the BSE m-cap, investor wealth increased today to Rs 42.43 lakh crore from a value of Rs 415.89 lakh crore during the previous session, a rise of Rs 7.54 lakh crore.
On the BSE, 159 equities reached 52-week High Levels
Today, 159 stocks reached their 52-week high points. Aegis Logistics, Avanti Feeds, Balkrishna Industries, Bikaji Foods, Aditya Birla Fashion and Retail Ltd., ARE&M, and Biocon, among other BSE 500 companies, reached their respective one-year high levels. Having said that, today saw 29 equities reach their respective one-year lows.
Strong market breadth: 2,762 stocks Were Up
2,762 of the 3,838 equities that were visible on the BSE were decreasing. 136 stocks were flat and 940 stocks were rising.
IIFL Finance, ARE&M, and Avanti Feeds all Rose by 12%
A 12.21% increase was seen in the stocks of Avanti Feeds, IIFL Finance, ARE&M, GAEL, Paytm, Mastek, Praj Industries, Tejas Networks, Garware Technical Fibres, and Sunteck Realty.
Top Gainers Include Consumer Durables and IT
The main Sensex elements that drove the index higher were Tata Steel, Bajaj Finance, TCS, Airtel, Infosys, Reliance, HDFC Bank, M&M, and ICICI Bank. Just Infy, RIL, and HDFC made a good contribution to the about 493-point increase. Every one of the 16 sub-indices on the NSE was trading higher. Nifty IT and Nifty Consumer Durables increased by 3.23 and 1.44 percent, respectively, more than the NSE index.
FII-DII Information
According to exchange statistics, yesterday saw a net sale of Rs 6,867.72 crore by foreign institutional investors (FIIs) and a net purchase of Rs 3,718.38 crore by domestic institutional investors (DIIs) of equities.
