Why Indian stock market skyrocketed today— explained

livemint.com:

Stock market today: After a gap of 36 sessions, NSE Nifty climbed to a new peak of 20,008 during Monday deals. However, the 50-stock index took 52-sessions to race from 19,000 to 20,000 peak. While Nifty rallied to 20,000 peak, BSE Sensex too regained 67,000 mark.

According to market experts, this rally in key benchmark indices are mainly due to the participatory rally in most of the Indian indices. They said that contininuous inflows by FII, DIIs and Indian retail investors have led to rise in Indian indices at record highs. On recent triggers that worked in favour of the Indian stock marekt rally, they said that resounding success of G20 has also attracted global investors towards Indian markets.

Speaking on the reasons that led to rise in Nifty at 20,000 peak, Saurabh Jain, Vice President — Research at SMC Global Securities said, "Continuous inflows from FIIs, mutual funds and other DIIs have led to participatory rally in Indian stock market as we witnessed rally in stocks ranging from small-cap, mid-cap to large-cap on a regular basis in recent few months. Retail investors have also pumped good amount of money in the markets when FIIs were selling in early 2023 and late 2022. This led to huge jump in the Indian indices when FIIs came back to the Indian markets." Pointing towards G20 connect in current market rally, Kaushik Dani, Fund Manager – PMS at Abans Investment Managers said, “Resounding success of G20 brings in the desired momentum and market valuations are yet to cross previous peaks.

Boost in bilateral trades should benefit various segments like pipes and cables. Sectors like Railways, Shipping and Logistics would be direct beneficiaries of recent announcements. With corporate earnings gaining strength,