Twitter
Advertisement

Metal, realty stocks led Sensex rally from 30000 to 36000

The BSE Consumer Durables Index gained the most 52.36% in the Sensex's 6,000-point jump since April last year

Latest News
article-main
FacebookTwitterWhatsappLinkedin

Almost all sectors participated in the market rally that began early last year and saw Sensex crossing 36000 milestone on Tuesday.

The rally was led by metal, banking, information technology (IT) and infrastructure stocks.

The BSE Consumer Durables Index gained the most 52.36% in the Sensex's 6,000-point jump since April last year.

The consumer durables index has risen to 23676.85 from 15539.84 on April 26, when the Sensex hit 30000 for the first time.

The second biggest sectoral gainer was the BSE Metal Index (40.31%), followed by BSE Realty Index (38.17%) and BSE IT Index (31.20%).

The BSE Banking index rose 23.44%, telecom (22.11%), energy (21.74%), finance (20.64%), industrials (18.66%), capital goods (15.84%), Auto (15.37%), FMCG (13.95%), oil & gas (12.88%), utilities (9.77%).

The worst performing has been pharmaceuticals and power sector indices. The BSE Healthcare Index was 15106.8 on Tuesday, unchanged from 15106.48 on April 26, 2017, while BSE power index was up only 2.36%.

"India's economy is seeing a double-digit growth while global cues are very strong. There is no tremendous improvement, but another 10% gain in the market is possible this year. But the mid-cap and small-cap may see some crushes," said G Chokkalingam, founder & managing director, Equinomics Research & Advisory Pvt Ltd. "The Union Budget should not do much damage," he said.

Investor wealth grew by Rs 31.72 lakh crore to touch Rs 156,56,592 crore in the Sensex's 6,000-point run since April.

The biggest gainers in the BSE 100 pack were Tata Global Beverages (105.40%) followed by Titan Company (88.07%), Tata Steel (74.90%), Divi's Laboratories (52.55%) and JSW Steel (52.55%). These were the five top gainers which dragged the Sensex to this close.

Reliance Communications, which dropped 44.62% since April 2017, was the top loser in the BSE 100 pack, followed by Lupin (31.56%), Glenmark Pharmaceuticals (29.58%), Rural Electrification Corporation (22.56%) and Reliance Infrastructure (21.51%).

"The bull run will continue till Thursday when the futures expire. A lot of activities like World Economic Forum at Davos and IMF data have been helping the market to perform well. There is mixed expectations from the Budget. So post-Budget some changes can be seen. The Budget can either be full of positive things or negative things, depending on which the market might swing," Arun Kejriwal, founder, Kejriwal Research & Investment Services, said.

"Though Q3 results are optimistic, they are is as good as expected. Markets need to come back to reality. The only thing that can happen now is a market correction," he said.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement