BSE Sensex started Samvat 2080 on a constructive word with the index climbing 354 factors past the 65,000 mark in the Muhurat trading session on Sunday.
The Sensex ended the particular one-hour session up 355 factors at 65,259 factors.
Infosys led the Sensex positive factors up 1.4 per cent adopted by Wipro, Asian Paints, TCS and NTPC.
The BSE Small Cap index gained 1.14 per cent whereas the BSE IPO Index was up greater than 2 per cent.
Motilal Oswal, Group MD & CEO, Motilal Oswal Financial Services mentioned Hindu Samvat 2080 is more likely to begin on a constructive word on the again sturdy earnings and wholesome financial outlook. Samvat 2079 ended with Nifty gaining round 10 per cent, regardless of financial headwinds and international geopolitical issues.
“Entering into Samvat 2080, we imagine India would proceed to shine and count on markets to keep up its outperformance. We imagine that over the following couple of quarters, sector rotation can be an vital driver together with the general market uptrend. We count on sectors like BFSI, Discretionary Consumption, Construction & Real Estate and High Growth Niche Sectors to drive the general market uptrend,” he mentioned.
Sunil Shah, director at Khambatta Securities added: “Indian equities are anticipated to outperform most different international markets in the face of continued geopolitical uncertainties and comparatively larger home financial progress. The main themes might be home consumption and premiumisation, enabling firms to put up sturdy earnings progress aided by margin accretion.
“Infra and building performs are anticipated to do effectively as the federal government’s thrust on infrastructure growth is seen to proceed, whereas larger budgetary allocation in rural-focus schemes will help drive a restoration in rural consumption, particularly with the upcoming funds being the final one earlier than the overall elections.
“In spite of wealthy valuations in the small- and mid-cap segments, firms with basically sturdy companies and good earnings progress proceed to justify their valuation. If US bond yields begin coming down by the second half of CY2024, FPIs will come again to the get together. Upcoming state and basic elections could make the market transfer sideways. Inflation, rate of interest trajectory, and geopolitical tensions will stay the important thing dangers.”
(With inputs from IANS)