Investors Getting Rich in the Stock Market: Sensex and Nifty Reach All-Time Highs, Bullish Trend in Small-Cap and Mid-Cap Shares
The bullish atmosphere in the stock market from the past week continues. Due to positive factors both globally and locally, today the Sensex and Nifty reached all-time highs again. The indices for small-cap and mid-cap shares also peaked due to the bullish trend.
Today, the Sensex opened with an improvement of 94.39 points and surged by 293.4 points, reaching a new record high of 83,184.34. The Nifty also made significant gains, reaching a historic high of 24,445.70 as it approached the 25,500 level. As of 11:00 AM, the Sensex is trading around 100 points up, while the Nifty has risen by 32.70 points.
Investor Capital Increases by ₹10 Trillion
With the bullish trend in the Sensex and Nifty reaching all-time highs, the BSE market cap has surged to a record level of ₹471.01 trillion. Consequently, investor capital has increased by ₹10.25 trillion over the last four trading sessions.
The market cap was ₹460.76 trillion last Wednesday. As of the latest update, 299 shares at the BSE have reached their yearly high, while 363 shares have hit the upper circuit limit. Conversely, 24 shares reached their 52-week low, and 180 shares hit the lower circuit limit.
Bullish Trend in Small-Cap, Mid-Cap, and Other Sectors
Small-cap and mid-cap shares, which had been dormant for the past two weeks, have resumed their bullish trend. Today, the BSE mid-cap index reached a record high of 49,506.01, while the small-cap index hit a new peak of 57,502.74. Additionally, sectors such as healthcare, financial services, and consumer durables saw attractive levels, leading their indices to all-time highs.
Amid the market rally, the IPO of Bajaj Housing Finance was listed with a 114.29% premium, driving increased buying in financial shares. The bullish trend in the Sensex is also supported by higher volumes in banking stocks such as HDFC Bank, Axis Bank, and ICICI Bank.
Reasons Behind the Bullish Trend in the Stock Market
Market experts have noted that the global bullish trend in the stock market has been accompanied by a surge in the local market. This Wednesday, the Federal Reserve will decide on interest rates.
Most economists and investors are optimistic about a reduction of 25 to 50 basis points in interest rates, which has contributed to a bullish sentiment in both equity and bullion markets.
Additionally, domestic economic growth is on the rise. Strong industrial production data suggests that upcoming corporate results next month are likely to be encouraging.
