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Indian Stock market trading in a peak for the 2nd successive day
Posted on: 18/Jan/2018 12:59:13 PM
The Sensex index of the Mumbai Stock Exchange has crossed 35000. The new peak of 35000 was crossed yesterday (Wednesday, 16th January). Sensex has persisted at this level for the 2nd successive day.
In a similar bullish trend, NIFTY has also crossed 19900 Thus both the National stock exchanges have touched a peak and persisted at that level for 2 days.
Mumbai Sensex went up by 347 points and reached 35429. NIFTY was up by 76 points and reached 10865.
Sensex had touched 34000 points during last December. This went up gradually and over the last 15 days, it has gone up by 1000 points reaching an unprecedented peak.
During the closing stages of trading yesterday, Sensex stabilised at 35081 points and NIFTY at 10788.
In this scenario, the trading which started in the morning today (Thursday, 18th January) resumed at the same high level. The main reason for the stock market touching a peak is attributed to the bank business systems coming up with a new plan facilitating the FIIs and FPIs to invest in the Indian Stock Market.
Another reason attributed is the buoyant news of the good performance of the IT giants TCS and Infosys in the last quarter of the financial year.
The above factors have triggered the bullish trend in the stock exchanges.
