Despite a flat and slow start, the domestic benchmark equity indices Sensex and Nifty 50 finished Friday's session in the green. On Friday, Nifty 50 stood tall, notching another historic new record all-time high at 23,490.40.
The Bank Nifty ended above the 50,000 mark. The 30-share BSE Sensex ended higher by 181.87 points or 0.
24% at 76,992.77 level while the Nifty 50 closed at 23,465.60 level, up 66.
70 points or 0.29%. According to experts, mainstream India is expected to pay greater attention to financial markets, as the Nifty 50 surged on positive expectations following a BJP-led victory in the Lok Sabha elections, lower inflation data, and a robust economic forecast.
“In our opinion, the most striking positive development for Nifty 50 and our stock markets was that the gains came despite US Federal Reserve intending to cut rates only once by 25 basis points this year instead of the two that the consensus had. India VIX drops 4.97% to 12.
82," said Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities. The stock market was closed for trade on Monday, June 17 due to Bakri Eid. Trading is scheduled to resume today.
Market Outlook by Dharmesh Shah, Vice President, The index started the week on a positive note and consolidated near life highs. The weekly price action formed a bull candle carrying higher high-low, indicating continuance of positive momentum. Boarder market relatively outperformed and endured its record setting spree.
In the upc.
