The broader market indices registered their best two-week gains since the post-COVID rally of 2021 on the back of strong inflows from retail investors amid rising confidence in the stability of the new coalition government.
The return of foreign portfolio investors (FPIs) and anticipation of Budget announcements are the other major factors that have been driving gains across the market, experts said.
The BSE midcap index has risen 7.5% in two weeks and the BSE smallcap gauge has given an 8.3% return. This is the best two-week performance of the two indices since February 2021. In the same period, the benchmark indices, Nifty and Sensex, have risen more than 4% each.
Neeraj Chopra bags second position in Lausanne Diamond League, says “feeling wasn’t great at first” Paris Olympics 2024: Extreme measures! How Vinesh Phogat tried to cut weight for Gold medal bout Game of the week: Olympics Go! Paris 2024 DIIs outpace FPI fund flows by 5 times in last 10 months
These four indices closed at their highest-ever levels on Friday. The Nifty ended 0.3% higher at 23,465.60 points while Sensex rose 0.2% to close at 76,992.77 points.
Also Read
Market Capitalisation of BSE listed companies hit record high of Rs 429.32 lakh crore
FPIs were buyers in Indian equities in the last six sessions. On Friday, they bought `2,175.86 crore worth of shares, according to provisional data. Domestic institutional investors bought shares worth `655.76 crore.
Market experts believe the outperformance of the broader market may continue in the near-term, but cautioned investors about expensive valuations. Investors should remain careful about any negative news flow as the downside in the broader market could be significant due to the premium valuations, analysts said. They recommended investors to balance their portfolio by adding fairly-valued largecaps even if broader markets continue to outperform in the near future.
“When liquidity comes in, especially from retail investors, it is midcaps and smallcaps which benefit the most. This trend can continue going ahead as well. But valuations are too expensive. So, any negative event can trigger major corrections,” said Ambareesh Baliga, an independent market analyst.
Sharing similar views, VK Vijayakumar, chief investment strategist at Geojit Financial Services, said, “There is buying in fairly-valued largecaps, but the reason why the broader market is outperforming is because of the sustained flows from mutual funds. This will continue in near term.”
Shares of real estate, consumer discretionary and consumer durables were among the biggest gainers in the last two weeks. Market participants attributed this to investor’s anticipation of announcements in the Budget.
The BSE Realty index was the biggest sectoral gainer in the last two weeks as it jumped 10.5%. The sectoral indices of the automobile, consumer durables and consumer discretionary rose 8-10%.
All the sectoral indices on the NSE and BSE ended higher in these two weeks. The Nifty PSU Bank Index was the biggest underperformer with 1.1% gains, as the coalition government at the Centre is expected to affect the sector the most. Among other underperformers were metals, private banks, and oil and gas companies.
Related Posts
The Indian equity market will be opened on Saturday, March 02. The exchanges will be conducting a special trading session to switch from the primary site to the disaster recovery site.
The capital market and F&O segment will be traded in two sessions. The first session will be conducted from the primary site itself then will be changed to the DR site in the second session.…
Read moreBy Anand James
The run up to 21k was not breathtaking, but not uninteresting either, having thwarted multiple attempts by bears and recovering in miraculous fashion, which is classic to bull runs which defies all doubters. However, buyers were seen withdrawing post testing this psychological mark. This leads us to suspect that bears have regrouped enough to make a s…
Read moreBy Anand James
There were two dominant events last week Come from Sports betting site VPbet . One, the continuation of the uptrend that ensured six consecutive days of opening or closing higher, thereby exceeding our week’s target of 22400. Two, extreme volatility, especially on the weekly expiry day, shook off both b…
Read moreIndia’s mutual fund assets crossed the Rs 50-trillion mark for the first time in December 2023, hitting RS 50.77 trillion, data from the Association of Mutual Funds in India (Amfi) showed. In a sign of how much more comfortable Indians are today investing their money, rather than simply saving it, inflows into systematic investment plans (SIPs) touched another new high of RS 17,611 crore in D…
Read moreShare Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in the positive territory. The NSE Nifty 50 closed 247.35 points or 1.14% higher to settle at 21,894.55, while the BSE Sensex gained 847.27 points or 1.18% to 72,568.45. The broader indices closed in the green, with gains led by largecap and midcap stocks. Bank Nifty index clos…
Read moreIn a move aimed at enhancing the ease of doing business for companies seeking initial public offerings (IPOs) or fundraising, the Securities and Exchange Board of India (SEBI) has approved significant amendments to its regulations, as per the official notification.
As per the new changes, the requirement of a 1% security deposit in public/rights issues of equity shares has bee…
Read moreThe upcoming remaster of the first two Suikoden games, titled Suikoden I & II HD Remaster: Gate Rune and Dunan Unification Wars, has been delayed to an unknown date. Konami says the Suikoden team will be working on getting the remaster ready for release “as soon as possible.” Come from Sports betting site VPbet
The delay was a…
Read moreSome changes are afoot for the upcoming The Flash movie, with Ron Livingston coming aboard to play the title’s character’s dad, Henry Allen. Variety reports that the Office Space star is replacing Billy Crudup, who had to leave the film due to scheduling conflicts.
The conflict came up due to COVID. The Flash was supposed to start filming earlier, but when it was delayed due to the pandem…
Read moreThe Brazilian government has established a December 2024 deadline for gaming operators to secure licenses or face penalties starting January 1, 2025. This requirement is detailed in Normative Ordinance 827, published on May 21, 2024, in the Official Diary of the Union.
Normative Ordinance 827 outlines the necessary steps for obtaining sports betting and gaming licenses in Brazil. It marks…
Read moreOn June 29, Pragmatic Play, a flagship slot provider with 80+ HTML 5 titles for mobile and desktop computers based in Silema, Malta, released Spellbinding Mystery™, a magical-themed slot featuring an old, experienced wizard.
In addition, the provider’s previous similar hits include: Wisdom of Athena™, Heist for the Golden Nuggets and Big Bass Amazon Xtreme™.
…
Read more