Equity Markets Extended Their Uptrend Analyzed

Indian stock markets continued to rise last week, hitting new highs. The Sensex and Nifty, which are like barometers of the market, gained significantly, thanks to strong performance from companies like Reliance Industries and positive news about how well companies were doing financially. This suggests the market is likely to keep going up in the coming months.

Key Points

• Stock markets reached new record highs last week.
• Reliance Industries drove much of the market’s gains.
• Corporate earnings boosted investor confidence and optimism.
• Overall market capitalisation increased substantially.
• Diwali Muhurat trading will be a short, one-hour session.
• Experts predict more gains, but also some settling.

Reliance Industries was a major factor in this rise, jumping by a lot. This helped push the market higher. However, some big banks saw their stock prices fall slightly, which slowed down the overall gain. Investors are watching closely to see how the rest of the companies’ financial reports will impact the market.

The total value of all the companies listed on the stock market increased greatly – over Rs 2.8 trillion. This shows that investors are confident about the future of these companies. It’s important to note that only a short trading session is planned for Diwali, and the market will be closed for a day afterward.

Experts believe the market will continue to move upwards, but that there might be some pauses or periods where the price doesn’t rise as quickly. They are watching for more reports on how companies are doing financially.

“As the Nifty approaches the 26,000 mark, some consolidation cannot be ruled out before the next breakout.”

Ajit Mishra, Senior Vice-President, Research, Religare Broking