The S&P BSE Sensex etched a record and breezed past the 30,000 level on Wednesday, to settle at an all-time high of 30,133, up 0.6 percent or 190 points. On the other major bourse, the National Stock Exchange, the benchmark Nifty 50 index also closed at a new high, of 9,351, up 0.5 percent from its previous close.
From its recent closing low in December 2016, the S&P BSE Sensex has gained about 4,300 points or 17 percent. Globally, the top performing market. The rally in mid-caps and small caps has been even sharper, with the NSE’s mid-cap and small-cap indices surging nearly 32 percent and 36 percent, respectively, in this period. Realty, consumer durables, capital goods, banks and oil & gas, among the sectors, gained from 24 to 64 percent.
A Union Budget sans negative surprise, a gush of liquidity from foreign and domestic investors, the outcome of elections, domestic (Assembly polls) and abroad (in France), coupled with an earnings surprise from select index heavyweights in the March quarter, have been some of the key factors.
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