Three Reasons Why Sensex Reclaimed Mt 50K and Nifty Crossed 15K

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Three Reasons Why Sensex Reclaimed Mt 50K and Nifty Crossed 15K
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- After three months of a low profile, the markets have erupted yesterday and today. Nifty 50 closed over 15,100 gaining 185 points while the BSE Sensex 30 gained 613 points to reclaim the 50,000 mark, as the indices gained 1.24% each.

Auto stocks led the rally today as Mahindra & Mahindra Ltd. (NS: MAHM ) closed up 5.77% while Bajaj Auto Ltd (NS: BAJA ) gained 5.19%. Titan Company Ltd (NS: TITN ) was third on the gainers list closing up 4.95% while Bajaj Finance Ltd (NS: BJFN ) closed up 4.53%. Nifty Bank moved up 1.38% while the Nifty Midcap 50 closed up 2% and NIFTY Smallcap 100 closed up 1.59%.

Three reasons that have played a major role in the rally are:

  1. Lower number of cases: The number of COVID cases has been falling for nine straight days. Markets anticipate these cases to fall quicker in the coming days. Vaccine rollouts are also expected to get faster.
  2. Good corporate results: Corporate earnings for the most part haven’t disappointed with a majority of companies reporting strong numbers for Q4FY21. While markets expect that Q1FY22 is going to take a hit, there are expectations that Q2 should see numbers bounce back.
  3. Global cues: Asian markets closed higher as well today, with Nikkei 225 , KOSPI 50 and Shanghai Composite closed up 2.09%, 1.23% and 0.32% respectively. US futures are all positive with Dow Jones 30 Futures , S&P 500 Futures and Nasdaq 100 Futures up 0.21%, 0.27% and 0.68% respectively. Oil prices are also moving up with crude oil trading at $66.57 at the time of this report.

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  • JustSay That @JustSay That
    All short straddle and put buyers or call sellers will be washed out clean mercilessly this expiry
    Like 0
  • Ved Mawndia @Ved Mawndia
    Big investor will sell on rise and poor people will buy on the rise
    Like 2
  • Ved Mawndia @Ved Mawndia
    market will go up and trap new investors and fall again , and new investors will sell in panic
    Like 4
  • Ved Mawndia @Ved Mawndia
    why reliance went 2300 now available at 1985
    Like 2
  • Niraj Kumar @Niraj Kumar
    tommorow sale sale
    Like 2
  • RAJNISH SINGH @RAJNISH SINGH
    TIME TO BOOK PROFIT
    Like 2
    • Madhav Masand @Madhav Masand
      it will be nice to crush the bears. bull are in full flow. just wait and watch
      Like 0
    • Madhav Masand @Madhav Masand
      it will be nice to crush the bears. bull are in full flow. just wait and watch
      Like 0
    • Ved Mawndia @Ved Mawndia
      you know actually bulls are bears in market crash , they say it booking profit , bear are bull during crash
      Like 1
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  • satyabrata nayak @satyabrata nayak
    Lock down extended..
    Like 0
    • Madhav Masand @Madhav Masand
      expect everything to open up in June.
      Like 0
    • Madhav Masand @Madhav Masand
      expect everything to open up in June.
      Like 0
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  • sushil garg @sushil garg
    buying buying buying buying
    Like 0
    • Ved Mawndia @Ved Mawndia
      what is the PE of nifty? you know what is the RSI14? why I should buy now when I can get cheap later
      Like 0
    • Ved Mawndia @Ved Mawndia
      give me any companies name today I will say you when to buy
      Like 0
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  • satyabrata nayak @satyabrata nayak
    Time to book the profit
    Like 5
    • Ashish Choudhary @Ashish Choudhary
      Kar kar par ek mahine baad rona mar
      Like 0
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  • Tushar Bogar @Tushar Bogar
    😃
    Like 1
  • Senthilkumar AR @Senthilkumar AR
    Only one reason cheating innocent people money in the name of trading
    Like 10
    • Vishal Karkamkar @Vishal Karkamkar
      markets always run in anticipation. just because u don't understand it doesn't mean it is fully cheating. some might be manipulating. but if u invest with a good knowledge and patience it will definitely benefit in the long run
      Like 0
    • Ashish Choudhary @Ashish Choudhary
      Lol noob
      Like 0
    • Nishanth Nani @Nishanth Nani
      😂😂😂thats the reason holding the market or else we can see nifty at 16000
      Like 1
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