The market has stayed surprisingly resilient in the face of rupee hitting new lows and oil prices spiraling up, but many fear trouble is certainly in store for equity investors.
The market fell sharply as sentiments were hit by the falling rupee and the rising crude prices.
The domestic market scaled record high with the S&P BSE Sensex surging 330 points, or 0.87 per cent, to end at 38,278.75; while the Nifty 50 Index rose 81 points, or 0.71 per cent, to close at
Strong, above-estimate earnings from India Inc have buoyed investor sentiments and set the stock market on an upswing. Blue chips have done particularly well in the April-June 2018 quarter.
The market ended lower as sentiments were hit by currency crisis in Turkey that could trigger contagion into other markets.
The market continued its upward momentum, with the Sensex gaining 112.18 points, or 0.30 per cent, to close at 37,606.58, while the Nifty 50 ended 36.95 points, or 0.33 per cent, higher at 11,356.5
The market was on a muscular roll last week. Shedding weeks of hesitation, the market jived 2.4 per cent during the week, propelled by earnings that came more in line with Street expectations.
The market ended flat in a highly choppy trading session.
The market gained sharply as investors’ focus turned to the earnings season with the Sensex ending 304.90 points, or 0.85 per cent, to settle at 36,239.62, while the Nifty 50 Index rose 94.35 point
The Sensex rose 276.86 points, or 0.78 per cent, to settle at 35,934.72—its highest closing level since 31 January 2018—while the Nifty 50 rose 80.25 points, or 0.74 per cent, to settle at 10,852.9