Back Why Indian stock market has been rising for last six sessions

Indian stock market closed higher on all five sessions in the week gone by. Among key benchmark indices, NSE Nifty gained 407 points or 2.31 per cent last week whereas as BSE Sensex went up over 1400 points or 2.40 per cent in this time. In last five sessions, Nifty Bank index shot up 791 points or 1.87 per cent and closed at 43,233 levels breaching the previous swing high of 43,200 levels. According to stock market experts, Nifty has been in uptrend after giving breakout at 17,200 levels and it has once again given breakout on Friday after closing above 18,000 levels. They said that weakness in the US dollar has brought foreign institutional investors (FIIs) back to Indian equity markets while strong quarterly numbers by big companies like ICICI Bank, Axis Bank, Bajaj Auto, Maruti Suzuki, Nestle added more fuel to the Indian stock market rally. They said that Bank Nifty index has breached its previous swing high, which is going to accelerate market rally in upcoming sessions but fresh break out in Nifty is going to help key benchmark index to continue outperforming other key benchmark indices. US dollar holds key Speaking on the reason for rising Indian stock market, Anuj Gupta, Vice President — Research at IIFL Securities said, "Due to weakness in the US dollar, FIIs have been fishing out money from the currency market and pumping in Indian equities. Apart from this, strong Q4 results announced by banking and auto companies have boosted the morale of both FIIs and DIIs that become evident after the end of April Series when both FIIs and DIIs ended up as net buyers. Back Why Indian stock market has been rising for last six sessions — explained 4 min read . Updated: 29 Apr 2023, 10:14 AM IST Asit Manohar Sensex may go up to 62,500 and Nifty is expected to hit 18,700 to 18,800 levels in next one month, say stock market experts. Sensex may go up to 62,500 and Nifty is expected to hit 18,700 to 18,800 levels in next one month, say stock market experts. Indian stock market may gain strength by heavy buying in banking, auto and capital goods segments, say experts Indian stock market closed higher on all five sessions in the week gone by. Among key benchmark indices, NSE Nifty gained 407 points or 2.31 per cent last week whereas as BSE Sensex went up over 1400 points or 2.40 per cent in this time. In last five sessions, Nifty Bank index shot up 791 points or 1.87 per cent and closed at 43,233 levels breaching the previous swing high of 43,200 levels. According to stock market experts, Nifty has been in uptrend after giving breakout at 17,200 levels and it has once again given breakout on Friday after closing above 18,000 levels. They said that weakness in the US dollar has brought foreign institutional investors (FIIs) back to Indian equity markets while strong quarterly numbers by big companies like ICICI Bank, Axis Bank, Bajaj Auto, Maruti Suzuki, Nestle added more fuel to the Indian stock market rally. They said that Bank Nifty index has breached its previous swing high, which is going to accelerate market rally in upcoming sessions but fresh break out in Nifty is going to help key benchmark index to continue outperforming other key benchmark indices. Enhance Your Career In Journalism with this PG Programme Jio Institute | Sponsored Senior Health Insurance Upto Rs.5Lakh @ Just Rs.8/Day. Best Health Care | Sponsored Pilibhit: The price (& size) of these hearing aids might surprise you Hear.com | Sponsored Pilibhit: Discover The Unsold Cars From 2022 (See Prices) Cars | Search Ads | Sponsored Student From Pilibhit Invented Natural Slimming Method Medical News | Sponsored People In Uttar Pradesh Say Goodbye To Mosquitoes With This ₹2499 Revolutionary Solution Buzz Pest Off | Sponsored India Solar Panels: See How Much It Will Cost To Install Them (See Prices) Best Solar Panel System | Sponsored India - Online Data Analyst Jobs with no experience USA Jobs from Home | Search Ads | Sponsored by Taboola US dollar holds key Speaking on the reason for rising Indian stock market, Anuj Gupta, Vice President — Research at IIFL Securities said, "Due to weakness in the US dollar, FIIs have been fishing out money from the currency market and pumping in Indian equities. Apart from this, strong Q4 results announced by banking and auto companies have boosted the morale of both FIIs and DIIs that become evident after the end of April Series when both FIIs and DIIs ended up as net buyers." Strong Q4 earnings Echoing with Anuj Gupta's views, Girish Sodani, Head of Equity Market at Swastika Investmart said, "Weakness in the US dollar has once again made Indian and other emerging equity markets lucrative for foreign institutional investors. Apart from this, due to the looming fear of economic recession in the US, domestic driven segments like banking and auto are expected to get preference from both FIIs and domestic institutional investors (DIIs). Demand in China has been sluggish for the last three to four months and hence FIIs are expected to prefer the Indian equity market ahead of China." On what technical chart pattern suggests in regard to Nifty and Sensex, Anuj Gupta of IIFL Securities said, "On technical chart pattern, Sensex has formed head and shoulder pattern that signals further uptrend and hence we may see the 30-stock index to climb up to 62,500 levels in next one month. Similarly, Nifty 50 index has given breakout at 18,000 levels on Friday and it is expected to breach its previous swing high of 18,200 levels. Once it breaches this hurdle, we can expect the 50-stock index to go up to 18,700 to 18,800 levels in next one month." Sensex vs Nifty vs Bank Nifty Back Why Indian stock market has been rising for last six sessions — explained 4 min read . Updated: 29 Apr 2023, 10:14 AM IST Asit Manohar Sensex may go up to 62,500 and Nifty is expected to hit 18,700 to 18,800 levels in next one month, say stock market experts. Sensex may go up to 62,500 and Nifty is expected to hit 18,700 to 18,800 levels in next one month, say stock market experts. Indian stock market may gain strength by heavy buying in banking, auto and capital goods segments, say experts Indian stock market closed higher on all five sessions in the week gone by. Among key benchmark indices, NSE Nifty gained 407 points or 2.31 per cent last week whereas as BSE Sensex went up over 1400 points or 2.40 per cent in this time. In last five sessions, Nifty Bank index shot up 791 points or 1.87 per cent and closed at 43,233 levels breaching the previous swing high of 43,200 levels. According to stock market experts, Nifty has been in uptrend after giving breakout at 17,200 levels and it has once again given breakout on Friday after closing above 18,000 levels. They said that weakness in the US dollar has brought foreign institutional investors (FIIs) back to Indian equity markets while strong quarterly numbers by big companies like ICICI Bank, Axis Bank, Bajaj Auto, Maruti Suzuki, Nestle added more fuel to the Indian stock market rally. They said that Bank Nifty index has breached its previous swing high, which is going to accelerate market rally in upcoming sessions but fresh break out in Nifty is going to help key benchmark index to continue outperforming other key benchmark indices. Enhance Your Career In Journalism with this PG Programme Jio Institute | Sponsored Senior Health Insurance Upto Rs.5Lakh @ Just Rs.8/Day. Best Health Care | Sponsored Pilibhit: The price (& size) of these hearing aids might surprise you Hear.com | Sponsored Pilibhit: Discover The Unsold Cars From 2022 (See Prices) Cars | Search Ads | Sponsored Student From Pilibhit Invented Natural Slimming Method Medical News | Sponsored People In Uttar Pradesh Say Goodbye To Mosquitoes With This ₹2499 Revolutionary Solution Buzz Pest Off | Sponsored India Solar Panels: See How Much It Will Cost To Install Them (See Prices) Best Solar Panel System | Sponsored India - Online Data Analyst Jobs with no experience USA Jobs from Home | Search Ads | Sponsored by Taboola US dollar holds key Speaking on the reason for rising Indian stock market, Anuj Gupta, Vice President — Research at IIFL Securities said, "Due to weakness in the US dollar, FIIs have been fishing out money from the currency market and pumping in Indian equities. Apart from this, strong Q4 results announced by banking and auto companies have boosted the morale of both FIIs and DIIs that become evident after the end of April Series when both FIIs and DIIs ended up as net buyers." Strong Q4 earnings Echoing with Anuj Gupta's views, Girish Sodani, Head of Equity Market at Swastika Investmart said, "Weakness in the US dollar has once again made Indian and other emerging equity markets lucrative for foreign institutional investors. Apart from this, due to the looming fear of economic recession in the US, domestic driven segments like banking and auto are expected to get preference from both FIIs and domestic institutional investors (DIIs). Demand in China has been sluggish for the last three to four months and hence FIIs are expected to prefer the Indian equity market ahead of China." On what technical chart pattern suggests in regard to Nifty and Sensex, Anuj Gupta of IIFL Securities said, "On technical chart pattern, Sensex has formed head and shoulder pattern that signals further uptrend and hence we may see the 30-stock index to climb up to 62,500 levels in next one month. Similarly, Nifty 50 index has given breakout at 18,000 levels on Friday and it is expected to breach its previous swing high of 18,200 levels. Once it breaches this hurdle, we can expect the 50-stock index to go up to 18,700 to 18,800 levels in next one month." Sensex vs Nifty vs Bank Nifty On why Sensex and Nifty outperformed Nifty Bank in the week gone by, Anuj Gupta said, "Bank Nifty was the first among all key benchmark indices that breached its previous swing high of 42,820. Initially, it was Nifty Bank index that outperformed Nifty and Sensex. But, Sensex and Nifty too breached its previous swing high levels and hence they outperformed Nifty Bank in the week gone by." However, Anuj Gupta maintained that all three benchmark indices are expected remain in uptrend and advised 'buy on dips' strategy for positional investors as Nifty has now strong support at 17,500 levels Stocks to buy on Monday On stocks to buy from these segments, Ravi Singhal suggested Mahindra and Mahindra and Bajaj Auto shares in auto segment whereas he advised investors to look at ICICI Bank, Axis Bank and State Bank of India (SBI) in the banking segment.