With help from the ongoing equity rallies, the Bombay Stock Exchange-listed companies have reached a record high of Rs 2,70,24,154.49 crore in Wednesday’s morning trade.
The 30-share BSE benchmark jumped to 60,660.75 during its fifth rally session. The points went high by 376.44 points in a day. The benchmark went high by 1,471.02 points in the five-day trading.
V K Vijayakumar, chief investment strategist at Geojit Financial Services told PTI, "An important trend in the market in recent days is the market resilience in spite of selling by both FIIs and DIIs. This new trend reinforces the dominance of retail investors and the success of the ''buy on dips" strategy. We don't know how long this trend will continue and this strategy will work. But now this trend is strong and might continue till an event triggers a trend reversal.”
He added that the Q2 results of Infosys, Wipro, and Mindtree will be coming out today and are very significant for the IT sector which has not been performing well since the TCS results came out.
According to PTI, M&M was the highest gainer in the 30-share BSE-listed company pack, rallying nearly 5 percent, followed by Titan, Tata Steel, and PowerGrid.
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