Record high! These 5 heavyweights contributed over 50% to Sensex's 1,115-point run today
₹2.11 lakh crore dividend from the Reserve Bank of India, announced yesterday, is anticipated to aid the government in managing the fiscal deficit. This a surprise for the market as the market was projecting a 1 lakh crore dividend.Furthermore, investors have now become more optimistic about a decisive victory for the BJP in the ongoing general elections.
According to analysts at foreign brokerage Bernstein, there is a higher likelihood of the BJP government winning approximately 330-350 seats.Additionally, foreign portfolio investors have decreased their selling activity in recent days. Over the past five trading sessions, FIIs have net sold stocks worth ₹1,813 crore, compared to net sales totaling ₹38,186 crore in May thus far.
Moreover, the US 10-year yield has declined to 4.43 percent from a peak of 4.73 percent one month ago.The rally in the benchmark index was mainly fueled by buying in auto, capital goods and banking sectors. BSE Auto jumped the most, up 2 percent, followed by BSE Bankex, BSE Capital Goods, BSE Industrials and BSE Financial Services, up over 1.5 percent each.
Read more on livemint.com
