Buoyed by easy monetary policy, a gradual re-opening of the economy and a rapid vaccination drive, the benchmark BSE Sensex Index has rallied nearly 20% year-to-date
Volatility continued on Tuesday as indices swing 1,300 pts to end 0.4% lower
The index valuation was the highest in March this year when it was trading at a P/E of around 35X.
The 50-share Nifty after dropping to a low of 16,782 managed to close at 17,053.95, with a gain of 27.5 points, or 0.16%
The gains were capped as the impact of the new variant on the economic recovery and central bank policy action remained uncertain
The benchmark Sensex is currently down 7.54 points, or 4,658 points from its record high of 61,766 on October 18
The Dow Jones Industrial Average was down 2.53 per cent at 34,898 in early trading, tracking its worst day since late October 2020
Shares of Reliance Industries Limited were in heavy demand on Thursday as it jumped over 6 per cent, helping market benchmarks close with huge gains.
PowerGrid was the top gainer in the Sensex pack, rising around 4 per cent
During the week, market infrastructure institutions (MIIs) will conduct an array of educational activities
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The 30-share BSE Sensex tumbled 372.32 points or 0.62 per cent to finish at 59,636.01
IIFL Alternative Research estimates Wipro to see passive inflows of $166 million and Bajaj Auto to see outflows of $80 million on account of the rebalancing
Benchmark indices shed about 0.6%; RIL, SBI drop by over 2% each
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TCS rose by 0.83 per cent, while Infosys inched up 0.31 per cent
Gains led by IT, energy and realty stocks support positive sentiment
Leading money managers also warn of risks emanating from external factors besides frothy valuations in certain pockets in the domestic market
After a volatile session, the 30-share index ended 477.99 points, or 0.8 per cent higher, at 60,545.61
Stock-specific movement will be seen as the market is heading for the last batch of Q2 earnings