Why Did The Sensex Soar 1,500 pts Yesterday?
let's find out
The weekend is calling, but before you sign off, let’s wrap up the week on a high note.
But before we start, here’s a dose of positivity for you:
‘The magic in new beginnings is truly the most powerful of them all’
Now, let’s get started…
Top headlines of the day
📌 Yes Bank's share price opened with a positive gap today, reaching an intraday high of ₹20.19 per share on the NSE
📌 DMart, a key stock in Radhakishan Damani's portfolio, soars 15%
📌 Vedanta targets mid-January for a $1 billion fundraising opportunity
📌 Tata Motors shares have plummeted 35% from their all-time high in just five months
So, what happened to Sensex yesterday?
The stock market had a fantastic start to the year on January 2, with the Sensex jumping 1,436 points (1.83%) to close at 79,943.71, marking its best single-day gain in over a month. The Nifty also surged 445 points (1.88%) to end at 24,188.65. So, what caused this impressive rally? Let’s break it down:
1. Strong GST Collection
December saw GST revenues rise by 7.3% year-on-year to ₹1.77 lakh crore. This indicates a healthy economy and strong consumer demand. Analysts pointed out that despite higher refunds in domestic and export sectors, the numbers show steady growth. The strong GST collection lifted investor confidence, signaling that India’s economic momentum remains robust.
2. Technical Market Trends
The Nifty moved closer to its 100-day exponential moving average (EMA), which is a key level for traders. According to market experts, if Nifty crosses the 24,250 mark decisively, it could pave the way for further gains to 24,400. On the flip side, if it drops below 24,000, the market could enter a sideways phase. This technical optimism helped boost buying activity.
3. Optimism Around Earnings
Investors are feeling good about the upcoming Q3 earnings reports. Key sectors like automotive and financials have shown strong business updates, with companies like Maruti Suzuki and Mahindra & Mahindra reporting positive trends. Additionally, luxury consumption sectors like jewellery, aviation, and hospitality are expected to perform well, further fueling market enthusiasm.
4. IT Sector Leads the Rally
The IT sector played a big role in driving the market upwards. The IT index gained over 1% as analysts forecast improved revenue growth for the December quarter. Stable global demand, particularly in the US, and the recent depreciation of the rupee are expected to boost earnings in the IT sector.
The Bigger Picture
A few other indicators added to the market cheer. The HSBC India Manufacturing Purchasing Managers' Index (PMI) for December remained strong at 56.4, indicating continued growth in manufacturing activity. While slightly lower than November’s figure of 56.5, it still showed expansion (any reading above 50 indicates growth).
⚠️ HOLD ON
Looking to expand your business or dive into real estate investments? OurBoomi has your back - exclusively in Tamil Nadu!
Whether you’re a first-time buyer, a seasoned investor, or a corporation seeking the ideal plot, we’ve got it all covered. OurBoomi offers a seamless, stress-free experience backed by thorough property appraisals, title research, and all the legal safeguards you need to make confident decisions. No buyer’s remorse here!
Here’s What We Bring to the Table:
Approval Guidance: From navigating local land use laws to securing approvals, we’ve handled the legwork before you even sign.
Title Research: We dig deep into land records and verify that you’re buying from the rightful owners.
Expert Advisory: Real estate can be complex, but our professionals simplify it. We also recommend title insurance to protect against future ownership disputes.
Whether you’re looking for personal property, an investment for future appreciation, or commercial expansion, OurBoomi ensures that every transaction is smooth and legally sound.
Don’t leave your future up to chance - reach out today!
📞 9361304065 for a free consultation!
So, that’s it from me today!
See ya 👋
