The Nifty50 rose to a fresh record high of 10,425, while the S&P BSE Sensex too hit a lifetime high of 33,530 on Wednesday, fuelled by strong macro data.
The S&P BSE Sensex saw its worst fall in the year 2008 when the index fell by over 12 percent, followed by the year 2011 when it saw a decline of 7.7 percent, and just last year in 2016, the index fell by a little over 5 percent.
The index rose in 3 out of the last 10 years. It rose nearly 10 percent in the year 2009, followed by 4 percent rally in the year 2012 and 3 percent gain in 2014.
The Nifty50 touched a fresh record high of 10,384.50 earlier in the week and a sustained move above 10,385 could add fuel to the momentum, till then we could see some consolidation in the month of November.
Crude oil is not trading above $60/bbl since the last few days. But, analysts are not worried and say that even crude at higher levels can be interpreted as a bullish signal for equity markets across the globe.
“The Nifty50 is hitting fresh highs on a daily basis in October which suggests that market is in a structural bull run. The index could continue its northward journey as earnings season so far has not disappointed the market,” Saurabh S Jain, MD, SSJ Finance.
For more information Whatsapp@ +91-9755855566 or visit@ http://www.saiproficient.com/
The S&P BSE Sensex saw its worst fall in the year 2008 when the index fell by over 12 percent, followed by the year 2011 when it saw a decline of 7.7 percent, and just last year in 2016, the index fell by a little over 5 percent.
The index rose in 3 out of the last 10 years. It rose nearly 10 percent in the year 2009, followed by 4 percent rally in the year 2012 and 3 percent gain in 2014.
The Nifty50 touched a fresh record high of 10,384.50 earlier in the week and a sustained move above 10,385 could add fuel to the momentum, till then we could see some consolidation in the month of November.
Crude oil is not trading above $60/bbl since the last few days. But, analysts are not worried and say that even crude at higher levels can be interpreted as a bullish signal for equity markets across the globe.
“The Nifty50 is hitting fresh highs on a daily basis in October which suggests that market is in a structural bull run. The index could continue its northward journey as earnings season so far has not disappointed the market,” Saurabh S Jain, MD, SSJ Finance.
For more information Whatsapp@ +91-9755855566 or visit@ http://www.saiproficient.com/
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