Main Reason why Nifty, Sensex, Nifty Bank closes at High Today on 1st March 2024.

 

Market Performance on March 1, 2024:

• Bulls dominated Dalal Street.
• Nifty surged 1.62%, Nifty Bank 2.53% and Sensex surged over 1.72% today.
• Investors cheered faster-than-expected domestic economic growth and in-line U.S. inflation data.
• Global market cues also contributed to the rally.
• Nifty approached its all-time high.

Reasons Fueling the Rally:

• Better-than-Expected GDP Print:
• Indian economy grew 8.4% in October-December quarter.
• Supported by robust manufacturing and construction activity.
• Provides fundamental support to the bull market.

Elevated Valuations Supported:

• GDP data supportive of valuations.
• Nifty trading at P/E of 23.45.
• Current valuations likely baked in the economic growth.

Upbeat Global Markets:

• Wall Street closed in the green.
• S&P 500 and Nasdaq Composite settled at record highs.
• Japan's Nikkei hit a fresh record high.
• China’s CSI 300 and Hong Kong’s Hang Seng index also edged higher.

Encouraging US Inflation Data:

• In-line U.S. inflation reading.
• Kept intact likelihood of a June interest rate cut by the Federal Reserve.
• Boosted positivity among market participants.

FIIs in Buying Mode:

• Foreign investors net bought shares worth Rs 3,568 crore in the previous session.
• In the past month, they bought Indian equities worth Rs 5,107 crore.
• FIIs have historically been buyers of domestic stocks in March on eight occasions.

Question which might brought you here.

1. Why did Nifty close high today?
2. Why did Nifty Bank close high today?
3. Why did Bank Nifty close high today?
4. Why did Sensex close high today?
5. Why did Stock Market close high today?
6. Why is Nifty Bank in the green today?
7. Why is Nifty in the green today?
8. Why is Sensex in the green today?
9. Why is Stock Market in the green today?