Sensex crosses 65 thousand in Muhurta trading
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New Delhi (Uttam Hindu News): BSE Sensex started Samvat 2080 on a positive note, with the index rising 354 points to cross 65,000 mark in the Muhurat trading session on Sunday. The one-hour special session ended with Sensex rising 355 points at 65,259. Infosys was the top Sensex gainer, rising 1.4 per cent, followed by Wipro, Asian Paints, TCS and NTPC. The BSE Small Cap index gained 1.14 per cent while the BSE IPO index gained more than 2 per cent.
Motilal Oswal, Group MD and CEO, Motilal Oswal Financial Services, said Hindu Samvat 2080 is likely to start on a positive note due to strong earnings and healthy economic outlook. Despite economic headwinds and global geopolitical concerns, Samvat 2079 ended with Nifty gaining nearly 10 per cent.
He said, “As we enter Samvat 2080, we believe India will continue to shine and expect the market to continue its good performance. We believe that over the next few quarters, sector rotation will be a key driver of the overall market uptrend. We are hopeful of sectors like BFSI. “Discretionary consumption, construction and real estate and high-growth niche sectors will drive the overall market.”
Sunil Shah, Director, Khambatta Securities said: “Indian equities are expected to outperform other global markets due to persistent geopolitical uncertainties and relatively higher domestic economic growth. “The key themes will be domestic consumption and premiumization, which will enable companies to post strong earnings.”
“Infra and construction sectors are expected to perform well as the government’s focus on infrastructure development continues, while higher budgetary allocations to rural-centric schemes may help improve rural consumption, especially in the coming months,” he said. With the budget.”
“Despite rich valuations in the small and mid-cap segment, companies with fundamentally strong businesses and good earnings growth are justifying their valuations. If US bond yields start coming down by H2FY24, FPIs will come back. Market movements may increase due to the upcoming general elections. “Inflation, interest rate trajectory and geopolitical tensions remain key risks.”
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