Nifty to record high
The investors on Dalal Street were in a celebratory mood on Friday, as the benchmark NSE(nifty)index hit fresh record high of 10,167.45 The BSE(Sensex)advanced over 250 points,More than 70 stocks on NSE hit fresh 52-week high on Friday
Five reason that drove Nifty to record high
Industrial output data :The Index of Industrial Production (IIP) for August showed that factory output grew 4.3 per cent against the same month last year on the back of robust mining and electricity sector growth, official data showed on Thursday.
Greed buying: Robust buying in select telecom, metal and banking counters further fulled the sentiment. Bharti Airtel surged after the company announced acquisition of Tata group’s loss-making mobile telephony business, almost for free, boosting its spectrum holding and user base.
Stable Inflation number :Retail inflation came in at 3.28 per cent in September, unchanged from August, despite softening of vegetable and cereal prices, according to the government data. Consumer power index:(CPI) or retail inflation stood at 4.39 per cent in September 2016. The Central Statistics Office (CSO) also revised downwards the August inflation to 3.28 per cent from 3.36 per cent.
Positive global market : European shares rose to their highest level in nearly four months in early deals on Friday
weaker doller :Appreciating rupee further buoyed market sentiment on Dalal Street. The local currency appreciated by 6 paise to end at a fresh one-week high of 65.08 on Thursday on continued selling of the greenback. The currency further strengthened by 19 paise to 64.89 against the US dollar on Friday intraday.
The investors on Dalal Street were in a celebratory mood on Friday, as the benchmark NSE(nifty)index hit fresh record high of 10,167.45 The BSE(Sensex)advanced over 250 points,More than 70 stocks on NSE hit fresh 52-week high on Friday
Five reason that drove Nifty to record high
Industrial output data :The Index of Industrial Production (IIP) for August showed that factory output grew 4.3 per cent against the same month last year on the back of robust mining and electricity sector growth, official data showed on Thursday.
Greed buying: Robust buying in select telecom, metal and banking counters further fulled the sentiment. Bharti Airtel surged after the company announced acquisition of Tata group’s loss-making mobile telephony business, almost for free, boosting its spectrum holding and user base.
Stable Inflation number :Retail inflation came in at 3.28 per cent in September, unchanged from August, despite softening of vegetable and cereal prices, according to the government data. Consumer power index:(CPI) or retail inflation stood at 4.39 per cent in September 2016. The Central Statistics Office (CSO) also revised downwards the August inflation to 3.28 per cent from 3.36 per cent.
Positive global market : European shares rose to their highest level in nearly four months in early deals on Friday
weaker doller :Appreciating rupee further buoyed market sentiment on Dalal Street. The local currency appreciated by 6 paise to end at a fresh one-week high of 65.08 on Thursday on continued selling of the greenback. The currency further strengthened by 19 paise to 64.89 against the US dollar on Friday intraday.
There are several reasons for frequent market fluctuations. Often some global factors are also responsible, therefore traders must learn all useful market updates timely to ensure they are on the right track. Beginners can refer share market tips as suggested by experts to earn profit good for themselves.
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