The Nifty currently trades at 21.4x its estimated 12-month forward earnings
The gain in share prices has been supported by the rally in commodity prices
Before Wednesday's fall, the benchmark indices had surged 12 per cent in November, underpinned by record buying by foreign portfolio investors
Previously, September 2010 had seen the record for highest FPI flows in dollar terms. In rupee terms, August this year had seen record flows of Rs 45,637 crore
All that happened in the markets today
According to Bloomberg data, about 86 per cent of the Nifty components are currently trading above their 200-day moving average (DMA) - a key technical indicator to study long-term trend of a stock
All that happened in the markets today.
Gains among banking stocks have helped the main Nifty index rise over 19% so far this month
After a subdued performance for most part of the year, Indian equities are entering Samvat 2077 at record highs.
Extending its winning streak for the seventh straight session, equity benchmark Sensex soared 680 points to scale another lifetime high on Tuesday, tracking a global market rally driven by Pfizer's COVID-19 vaccine trials data. After touching its lifetime peak of 43,316.44 during the day, the 30-share BSE index ended 680.22 points or 1.60 per cent higher at 43,277.65. The broader NSE Nifty too touched a fresh intra-day high of 12,643.90. It ended at 12,631.10, up 170.05 points or 1.36 per cent. Bajaj Finance was the top gainer in the Sensex pack, surging around 9 per cent, followed by IndusInd Bank, L&T, Bajaj Finserv, HDFC, SBI, ICICI Bank, HDFC Bank, ONGC and Axis Bank. On the other hand, Tech Mahindra, HCL Tech, Infosys, Nestle India, Sun Pharma and TCS closed in the red. "Announcements by BioNTech and Pfizer about successful phase 3 trial of COVID-19 vaccine instilled confidence among investors and possibility of sustained economic recovery led sharp buying in beaten down ...
But about half the Nifty50 stocks still trading below January levels
The Bombay High Court refused to grant interim bail to TV journalist Arnab Goswami.
While the index is almost back to pre-Covid highs, the stock prices for over half of its components are still below their February 20 levels
Analysts say high P/B and drop in RoE a worrying sign
The last time the Sensex had gained for nine straight sessions was in April 2018
The benchmark S&P BSE Sensex rallied nearly 10 per cent in the past 10 trading sessions and regained the psychological 40,000-mark after over seven months
Stocks markets are expected to continue their winning run in the short-term driven by hopes of more stimulus measures
Optimism around economic revival, stimulus propel markets
There was, however, a mixed trend overseas after US President Donald Trump dashed hopes of a pre-election stimulus package
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