Internasional - Following Asian Stocks, Indian Stocks Rise for Five Days in a Row The S&P BSE Sensex

Internasional Kastra Jatim - Following Asian Stocks, Indian Stocks Rise for Five Days in a Row The S&P BSE Sensex

Internasional Kastra Jatim - Index was up 0.6 percent to 47,648.24 at 9:57 am Mumbai time. Meanwhile, the NSE Nifty 50 Index also rose by the same magnitude. Indian stock markets rose for the fifth day in a row, following the strengthening of other exchanges in Asia, as the slowing pace of the corona virus infection increased optimism over economic recovery.

Bombay Stock Exchange, India – Bloomberg

Reporting from Bloomberg on Tuesday (12/29/2020), the S&P BSE Sensex index rose 0.6 percent to a level of 47,648.24 at 9:57 a.m. Mumbai time. Meanwhile, the NSE Nifty 50 Index also rose by the same magnitude. Both indexes are on track to extend their record highs even as trading volume shrinks towards the end of the year. All 19 sector sub-indices compiled by BSE Ltd. strengthened, led by the banking sector. A total of 20 stocks rose on the Sensex while 10 others fell.

Internasional Kastra Jatim - Following Asian Stocks, Indian Stocks Rise for Five Days in a Row The S&P BSE Sensex

Internasional Kastra Jatim - Housing Development Finance and HDFC Bank shares contributed the most to the index increase. Meanwhile, IndusInd Bank shares rose the sharpest with a jump of 3.7 percent. Meanwhile, in Asia, Japan’s Topix index and Nikkei 225 rose 1.75 percent and 2.77 percent, respectively, the Hang Seng index gained 0.87 percent, while the Kospi index closed up 0.31 percent.

Most stocks in Asia and US and European futures also gained on Tuesday after the US House of Representatives agreed on individual fiscal stimulus payments following President Donald Trump’s signing of the stimulus bill.

Internasional Kastra Jatim - Following Asian Stocks, Indian Stocks Rise for Five Days in a Row The S&P BSE Sensex

Internasional Kastra Jatim - Foreign investors raised about US $ 18.5 billion in Indian stocks this quarter, a record high. The entry of foreign investors has also been the driving force behind the strengthening of the index, which has reached an all-time high.

The easing of the coronavirus caseload in India has also raised optimism that a rapid economic recovery will help companies catch up to high valuations. “Investors are buying in the anticipation that growth will be very strong next year,” said head of research at IDBI Capital Market Services Ltd. A.K. Prabhakar, as quoted by Bloomberg.