Sensex, Nifty close at record highs: Why the stock market is seeing a great run
FirstpostThe Sensex and Nifty both hit record levels on Wednesday. According to Business Today, Wall Street ended higher due to several factors including strong economic data, an upward revision in the first quarter GDP, a fall in jobless claims and positive results from the US Fed’s stress test. “The global support to the bullishness is coming from the US, where the market is resilient supported by better-than-expected Q1 GDP growth of 2 per cent and declining weekly jobless claims,” VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, told Indian Express. Strong institutional flows, healthy macros and robust earnings growth drove domestic market towards its new highs,” said Siddhartha Khemka, Head of Retail Research, Broking and Distribution, MOFSL. However, any pull back below 18,940 will have to be treated as a bear sign,” Anand James, chief market strategist at Geojit Financial Services, told Business Today.