DSIJ Mindshare

Benchmark Indices Continue To Surge

The benchmark indices have been rising and hitting all time high for eight consecutive trading sessions. In today's trade BSE Sensex was up by 0.24% and Nifty was up by 0.28%. The boost in the market sentiments is primarily due to better than expected GDP data which came in at 5.7% for quarter ended June compared to 4.6% in the previous quarter. Also the CAD data narrowed down to 1.7% of GDP compared to 4.8% of GDP in the year-ago period. This was backed by decline in imports and rise in exports. 

The broader markets outperformed their counterparts with BSE mid-cap up by 0.73% while small-cap was up by 0.58%. Tracking the momentum of sectoral indices, BSE IT was up by 2.06% after the rupee weakened against the US dollar. The early gainers in the market were led by TCS and Infosys, each up by 1.88% and 1.82% respectively. While GAIL, Grasim, BHEL, were seen trading in red, down by 1.94%, 0.97% and 0.81% respectively. 

Further a firming trend was seen in the Asian market. All the indices were seen trading in green. Japan's Nikkei was up by 0.67%, Hong Kong's Hang Seng was up by 1.51% and China's Shangai was up by 0.70%.

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