11 April 2024 – Despite low levels of global uncertainty, the stock market has been steadily rising, strengthening its position on a worldwide scale every day. Institutional investors continued to like Indian equities because of the nation’s steady macroeconomic environment and strong profit growth. Remarkably, even equities that were under pressure in the past are now part of the positive trend, demonstrating the market’s overall durability and power.
Excellent business updates from several businesses indicate that big corporations are expected to report excellent results during the Q4FY24 earnings season, which is expected to build on the trend. The expectation of a typical Indian monsoon, as well as the drop in oil prices from a five-month high, have also helped to boost market optimism in recent days.
The Bull Run is mostly being driven by real estate and auto companies, helped along by investors’ enthusiastic reactions to recent corporate announcements. Furthermore, industrial metal prices are hitting multi-year highs, and metal stockpiles are steadily rising. Stocks related to banking have also done quite well.
Conclusion
The previous trading session saw the Nifty 50 reach a fresh record high of 22,775 points thanks to this increase in main industry indexes. At now, the total market capitalization of businesses listed on the NSE is approaching ₹400 lakh crore, which is equivalent to $4.8 trillion.
