Sensex hits all-time high: The Boom in the Stock Market is because of these reasons
As Sensex hits an all-time high of 63,588.31, investors are running around with excitement because of the crazy bull run that has helped Sensex and Nifty reach such numbers. On Wednesday, the market surpassed December 1, 2022 levels to reach a new high. This upward trend in the Indian stock market follows the global rally where United States, Japan, South Korea, and Taiwan are also reaching their yearly highs.
BOOKMARK THIS MESSAGE AND REMIND ME IN 2028-29:
Sensex Value : 100000 💥
Nifty Value : 30000 💫99.99% CONFIRMED
We still have lot of opportunities in Stock Market ..
Select Wisely !
— R.K. (@ipo_mantra) June 17, 2023
What is powering the Bulls?
Sensex 63400CE from a low of 0.5 Rs made a high of 80Rs.🚀 pic.twitter.com/Gpb2p3Q7ac
— Gaurav Lokhande (@Trader_GL) June 16, 2023
Retail inflation has seen a decrease over the past few weeks. It eased to 4.25% in May, which was a good sign for the overall economy.
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RBI has also not made any rate hikes in the last two monetary policies, indicating that the rate hike cycle is on pause for now.
Last year and at the start of 2023 there was a huge fear that the US markets will go into recession, however, the markets have remained relatively positive, and no immediate sign of a recession can be seen. This is another reason why the global markets are seeing a correction and moving towards the green.
Hotels are full
Sensex on new highs
Record Tractor sales
Record credit offtake
Airlines at highest ASKM
Waiting at top restaurants
Highest Job Addition as per EPFO
Highest Corporate tax collection
GST tax collection above 1.6 lakh cr& some #DoltEconomists say abhi Mandi hai
— Rishi Bagree (@rishibagree) June 21, 2023
The government has also increased its capital expenditure and this has been in manufacturing.
Foreign portfolio investors (FPIs) have again shown an interest in the Indian markets and have increased their investments. This has given a huge upward push to many stocks.
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Mid-caps and small-caps have also shown great performance and this is likely to continue. Small-cap banks have especially shown a good upward trend.
Banks are seeing a good balance sheet and sustained credit growth.
Though these positive signs are a good indication for the market, analysts are worried about global uncertainty, economic slowdown, and interest rate hikes. Monsoon has also been poor this time around and this does impact the economy in multiple ways and can show up with a downward trend in the market.
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