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Since the beginning of the year, the IFIs have sold close to $ 919.10 million in shares, while the DII have bought Rs 68.771 billion. : The benchmark BSE Senbad climbed for the fifth consecutive session on Thursday to break the 37,000 mark, in anticipation of an acceleration in earnings growth Indian companies.
NSE's Senbad and Nifty 50 indices close the record day In intraday trade, the Senbad rose by 203.39 points, or 0.55%, to a record of 37,061.62, while the Nifty 50 was up 0.48% until The Senbad closed up 0.34% to a record high of 36,984.64 points, while the Nifty climbed 0.32% to hit a record of 11,167.30.
The fact that the rally was led by a few "C & # 39; is a rally driven by very few mega-caps.Extremely narrow rally," said Ajay Bodke, chief executive and chief of the Portfolio Management at the Prabhudas Lilladher Pvt. "The health of the market should be measured from the performance of the market as a whole." If we look at the small-cap and small-cap BSE index separately, the other indices are well below their record highs. "
The mid-cap index and the small-cap index are down 13.96% and 19.21%, respectively, from records on January 9th and January 15th.
"Essentially, it's not a healthy development in a long-term perspective," Bodke said. "The most important actions get too expensive and may not be able to help support the index rally." At one point, value migration will come into play. "He added that profit growth is the only hope, especially when the macroeconomic situation is not promising.
The first results of the companies indicate a recovery of consumption and the business climate, the economy is in a good position. establishing after the implementation of the goods and services tax.
An badysis of 102 listed companies showed that overall profit, after adjusting for one-off gains and losses, increased by 14.3% in April. June, the highest of the nine quarters.
A portion of investors expect the recovery. "With earnings improvement, people now have confirmation that the recovery is underway, which attracted investors, "ad clarified Deven Choksey, group general manager, K.R. Choksey Investment Managers Pvt. Ltd. "The rally is here to stay, however, small intermittent corrections are not excluded."
During Thursday's trading, the winners beat the losers in the 1.1: 1 ratio. BSE Power index and BSE Utilities index rose 1.44% and 1.66% respectively
Shares of Maruti Suzuki India Ltd fell 3.7% after recording a rise of 26.9% of profits compared to the same quarter of the previous year.
Private Lender Yes The Bank's shares fell 3.6% despite quarterly earnings estimates, investors worrying about rising gross slippages.
For the Senbad, financials dominate. The main SBI lender grew by 5.6%, while ICICI Bank Ltd gained 4.1%
Foreign institutional investors have sold nearly $ 919.10 million in shares since January. National institutional investors injected net ¥ 68,771 in equities
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