Sensex today jumps to 13-month high at 15,670. The Bombay Stock Exchange (BSE) 30-share index surged by 282.35 points.
The Sensex gained 1.83% today and it hit a level that was seen long back on June 17, 2008.
It has been reported that there is an excellent Q1 earnings by most of the corporates. These corporates have raised market expectations about an encouraging outlook for Indian companies in this financial year.
State Bank of India (SBI) and Mahindra & Mahindra came out with strong Q1 results. They have beaten all the estimates of analysts’.
The broader 50-share Nifty even soared by 65 points (1.42%) to 4,636.45 since its last close.
Avinash Gupta, Vice-President of Bonanza Portfolio Assistant said, “The market opened strong but was dragged down by profit booking. A sharp recovery in the last half an hour of trading helped the Nifty to close with a gain of 65 points. The advance-decline ratio was almost 1:1. The market is expected to consolidate around the current levels.”
