With the hope of Covid-19 Vaccine global market sees a continuing healthy trend. Sensex touches a fresh high over 44,000 points on Tuesday morning, while it closes at 43,493, up by 315 points, with HDFC Bank, HDFC, SBI, and Axis Bank contributing the most.
A Report from Global Financial major Morgan Stanley predicted a target of 50,000 points for Sensex by December 2021, which also boosted the sentiment on Dalal street.
On the other hand NSE added 94 points to close at 12,874 with a new peak for the index. The day tallied about 1.4 lakh crore Investor’s wealth with the BSE’s Market capitalization now at record INR 169.4 Lakh crore. The gain as per the data shows, mainly came on the buying of strong foreign fund.
So far, this month foreign investment have net worth of stock nearly $4.5 Billion or roughly INR 33,000 crore. During the same period Sensex has gained its point a little over 4,300 points.
The Morgan Stanley report suggest that the Sensex is now on a course of a healthy rise of about 15% from the current level in just over a year. According to the report of Ridhan Desai and Sheela Rathi, India was in a Bull market state that started in March. The report noted that the concentration of market capitalization and profits may have peaked with the return of the growth cycle.