Indian stock markets experienced a significant surge of over 3 percent by the closing session on Wednesday, bouncing back from the losses incurred during the election results.
In response, CLSA has made a strategic shift in its India focus portfolio, replacing L&T with HCL Tech, and turning more defensive by favouring private banks, IT, insurance, and commodities.
Indian benchmark indices closed at record highs on Monday, driven by fresh buying from investors after exit polls indicated a comfortable majority for the NDA government.
Stock markets may reach new heights says market experts post exit poll outcomes. Most of the exit polls gave Modi led NDA government a comfortable win, have enthused market experts.
The Nifty index fell by 0.95 percent, losing 216 points to close at 22,488.65. Similarly, the BSE Sensex dropped by 0.83 percent, shedding 617 points to end at 73,885.
Indian stock markets closed marginally below on Tuesday after a high volatility during the trading. The equity markets experienced a pause after a three-day streak of record highs.
The S&P BSE Sensex breached the remarkable 76,000-mark for the first time, hitting 76,010, while the NSE Nifty50 scaled a new summit at 23,111 before retracting into negative territory.
By creating an unprecedented wealth of USD 1 trillion in just 6 months, both indices of the Indian stock market BSE and NSE have joined the exclusive USD 5 trillion club, defying the FII (Foreign Institutional Investors) pull out before the outcome of the Lok Sabha election on June 4
Indian indices Nifty and Sensex opened flat on Friday, near the record closing of the previous day. The Nifty Index opened at 22,930 points, very close to the 23,000 mark. The Sensex also sustained Thursday's rally and opened near 75,335, close to the 75,500 mark.
After Prime Minister Narendra Modi predicted a historic win for the BJP in the upcoming election and forecasted record highs for the stock markets on June 4, the benchmark Nifty index crossed the 22,800 mark for the first time during Thursday's session.
On Wednesday, Nifty 50 index gained 20 points to 22,549.70 from the previous close of 22,529.05, while the Sensex also took a small lead of 91 points to 74,044.53 after closing at 73,953.31 on Tuesday.