Sensex crosses 74k mark in 1,000 points rally
Updated: Mar 28th, 2024
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| Source: IANS |
Sensex crossed the 74k mark after it gained more than 1,000 points in a broad-based rally today.
Sensex was trading at 74,044 points, up 1,047 points or 1.44%.
Among the Sensex stocks, Bajaj Finserv is up more than 4%, Bajaj Finance is up more than 3%. Mahindra & Mahindra is up 3.3%, SBI is up 2.8%, Powergrid is up 2.5%, Larsen & Toubro is up 2.3%.
More than 50% of the stocks are advancing on the BSE.
Shiju Koothupalakkal - technical research analyst, at a stock broking firm, said the Nifty index has witnessed a significant rise from 17,360 level to touch the high of 22,525 level in the last financial year 2023-2024 gaining almost 29% with currently hovering near the all-time high zone, maintaining a strong uptrend and has further scope of upward movement having higher targets of 22,700 and 23,200 levels for the medium-term time frame. As of now, the important near-term support zone would be around 21,900 levels.
V K Vijayakumar, chief investment strategist of a financial services company, said the upward directional move expected from early April has been confirmed by the strong rally in Nifty on Mar 27. The primary catalyst for the ongoing rally is the huge liquidity flows into the market. DIIs have pumped in a massive ₹24,373 crore into the market during the last seven trading days imparting resilience to the market.
(Source: IANS)
-Edited for style
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