"The 21,000 level is meaningless. In the past five years, earnings have grown 40 per cent. One should look at the P/E. We are very positive on the market despite elections being around the corner," says Milind Barve MD, HDFC AMC.
For the week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
For the second straight week, the Sensex rose, notching up a significant gain of 528.34 points, or 1.59 per cent. The Nifty was up 129.45 points, or 1.25 per cent, during the week.
The 'Indian story' will be badly damaged if the Modi government is not re-elected, argues investment banker Christopher Wood.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
Have a Plan B in place if the tide turns against you.
Risk sentiment received a boost after eight core sectors grew to a five-month high of 4.9 per cent in August
While larger companies like Nestle India, Britannia and the like are often mentioned, some mid-cap companies are also expected to grow at a rapid clip.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
'... Whether an incumbent is voted back or a coalition forms a new government except for a temporary disruption for a few weeks.'
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
The combined pay for India Inc's top management was up 30 per cent in FY16, growing at the fastest pace in nine years
The rally in the broader market also mirrored the positive trend seen in other Asian markets.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Riding on a strong market sentiment, these stocks have outperformed the bellwether. The flip side is, they can fall faster when the tide turns.
Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.
Stick to export-focussed plays, large-caps, say analysts
It is too early to say if we have seen the "final" bottom to these stocks in August 2013 or if another attempt to test them will be made before or just after elections, says Sonali Ranade.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances