Market Overview

Nifty and BSE Sensex: How are Indian markets faring?

Nifty and BSE Sensex

Markets saw strong momentum in the week gone by, and despite volatility, it continued its upward march. Nifty made its new high in the previous week effectively on every session. With Nifty and BSE Sensex seeing positive momentum, there are several factors which are expected to help Indian indices. 

BSE Sensex didn’t cross high of ~73,427.59 points that made on 16th January. New high which was made Friday on Nifty was ~22,297.50 points, with Sensex touching ~73,413.93 points, just shying away from its previous high by only ~14 points. 

Therefore, this makes one believe that sooner or later Nifty and BSE Sensex might breach their respective new highs as FIIs didn’t withdraw their money despite US bonds reaching record levels. 

By end of the previous week, BSE Sensex saw an increase of ~716.16 points or 0.99% to end at ~73,142.80 points, with Nifty gaining ~172 points or 0.78% to close at ~22,212.70 points. Broader markets saw BSE 100, BSE 200 and BSE 500 gaining 0.70%, 0.76% and 0.74%, respectively. BSE Midcap went up by 0.01% while BSE Small-cap increased 0.82%. 

However, early half of current week has seen positive momentum. Nifty and BSE Sensex on Tuesday closed higher mainly because of buying in index major TCS, Tata Motors and Sun Pharma as most global markets remained firm. 

30-share BSE Sensex saw an increase of ~305.09 points or 0.42% to close at ~73,095.22 levels. This index saw some sort of volatility, but gains in index heavyweights provided much-needed support, leading barometer to close in green. 

During trading session, Sensex went up by ~371.17 points or 0.50% to the high of ~73,161.30 levels. Nifty closed higher by ~76.30 points or 0.34% to end at ~22,198.35 levels. 

Commerce and Industry Minister, Mr. Piyush Goyal, during speech at ‘Viksit Bharat@ 2047 Conclave’ mentioned regarding country’s leading role in global growth over previous decade. 

He went on to emphasise India’s healthy and stable macro-economic fundamentals, strong infrastructure development efforts, and India’s focus on welfare initiatives. Collectively, all these factors are expected to provide next leg of growth to global markets. 

Apart from this, he outlined Indian government’s numerous initiatives which are targeted at promoting manufacturing in India. 

Indian rupee closed flat at ~82.89 (provisional) against USD in restricted trade on 27th February 2024 as there were withdrawal of foreign funds and higher month-end demand associated with American currency. 

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I'm Ved Prakash, Founder & Editor @Newsblare Media, specialised in Business and Finance niches who writes content for reputed publication such as,, Motley Fool Singapore, etc. I'm the contributor of different... news sites that have widened my views on the current happenings in the world.

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