On Wednesday the rally could continue with the SGX Nifty hinting at a positive start as it was trading over 55 points higher.
Share Bazaar News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity benchmark indices rallied again on Tuesday and reached fresh all-time highs. The 50-stock NSE Nifty crossed 13,000 for the first time in history. Sensex and Nifty ended yesterday’s trade at their highest closing levels. On Wednesday the rally could continue with the SGX Nifty hinting at a positive start as it was trading over 55 points higher. Global cues are strong on Wednesday morning with stock markets in the United States closing with gains and Asian peers surging higher during the early hours of trade. Hang Seng, Nikkei 225, and TOPIX all gained over 1% each.
The recent rally in domestic markets is supported by heavy buying by Foreign Institutional Investors (FII). so far this month, FIIs have pumped in a record breaking Rs 55,474 crore into domestic securities. This week along FIIs have bought equities worth Rs 9,000 crore. FII buying is aided by the changes to MSCI indices that will take place at the end of this week as well as favorable outlook for India’s economic growth in the post pandemic world.