The stock market is continuously buzzing, know what is the real reason for this boom? – the market remains strong due to increase in the flow of foreign funds
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Investor wealth has increased by over Rs 12.56 lakh crore in the last seven days as domestic equity markets continued their rally amid buying by foreign institutional investors and a stable global trend. The 30-share BSE Sensex has gained 2,544 points, or 4.41 per cent, in the last seven trading sessions. On the other hand, the market capitalization of companies listed on BSE increased by Rs 12,56,510.59 crore to reach Rs 2,64,51,069.93 crore in the last seven trading sessions. Last week, the stock market remained closed on Tuesday (April 4) on account of ‘Mahavir Jayanti’. Markets were also closed on Friday on the occasion of ‘Good Friday’. On the other hand, on March 30, the stock markets were also closed on the occasion of ‘Ram Navami’.
The Sensex climbed 311.21 points, or 0.52 percent, to close at 60,157.72 on Tuesday. Shrikant Chauhan, head of equity research (retail), Kotak Securities Ltd. said, “Sensex again closed above the crucial 60,000-mark on strong cues from Asian and European markets. Apart from this, investors are betting on domestic stocks due to the Reserve Bank of India keeping the policy rate unchanged, good Goods and Services Tax collection and mixed economic growth data.
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