Benchmark indices opened at a fresh ever high on Wednesday (April 26th) on strong international hints, reinforcing a rupee to 64 dollar level, in line quarterly earnings and firm liquidity in the market. Reducing geopolitical tensions too have raised the stocks to higher.
The BSE Sensex strike highest level record of 30, 146.45, outshining its last highest record of 30,024 recorded in March 2015.
Till 12: 30 pm, the index was showing 1.66 points, or 0.56 percent, higher at 30,110.80.
On the other hand, Nifty50 hit 9,300 for the first time on Tuesday, assembled and hit its latest all-time high of 9,363.75.
The BSE Sensex has increased over 12 percent this year, outshining global stares. Foreign investors investing in India have procured 19 percent return on their investments as told by Dollex 30 index. The result of first Round of French elections that took place on April 23rd went in favor of Centrist Emmanuel Macron a pro-European Union ex-banker has been applauded by global markets.
Earnings of index huge Reliance Industries too have implanted confidence in foreign investors. Alongside, one could not challenge the roll of short coverings before the expiry of April futures and gives series contracts.
The Head of Research at Motilal Oswal Securities, Gautam Duggad said, “Going forward, sustenance of positive results momentum and more importantly management commentary about FY18 earnings recovery prospects will be a key thing to monitor as valuations do not offer much comfort from here on.”
Amongst Sunsex stocks, Wipro scaled up 2.28 percent to Rs 505.85 on BSE after better than expected Q4 results. Mahindra & Mahindra climbed 1.15 percent to Rs 1,322 percent.