Sensex April session ends with huge gain in over 2 years

May 01 2018 01:04 PM
Sensex April session ends with huge gain in over 2 years

On Monday, rising for the third session, the benchmark BSE Sensex recovered the 35,000-mark by rising about 191 points to end at a near three-month high of 35,160 as members showed enthusiasm in view of continuing corporate profits season.

Furthermore, Nifty has crossed the 10,700-mark again. Nifty was riding on a slew of certain factors, including the RBI liberalising the external commercial borrowing (ECB) policy. Additionally, the shares posted their largest cyclic gain in over two years, since March 2016. This happened as the technology scrips progressed and on the back of strong Q4 numbers by HDFC and Kotak Mahindra Bank.

On Friday, predilection got a lift after the RBI further liberalised the ECB policy. Furthermore, RBI includes more sectors in the window, in an effort to promote easy access to across funds for India Inc., quotes TOI.

Moreover, positive leads from other Asian bourses following last week’s historic North-South Korea summit, fuelling optimism, too had an impact on bourses here. An extraordinary break in European markets too combined with positivity. The gains were led by financial and technology stocks as investors extended their vulnerability onward of key corporate results.

The January-March quarterly returns posted by companies so far are mostly in line with market expectations.

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