After the Bhartiya Janata Party s decisive victories in Chattisgarh, Rajasthan, and Madhya Pradesh last Sunday, the market witnessed a robust rally, which briefly paused mid-week. However, as the week concluded, buying momentum resumed, propelling benchmark indices to fresh highs. This resurgence was attributed to positive global cues and the Reserve Bank of India s (RBI) optimistic revision of the FY23-24 GDP forecast to 7%, up from the earlier 6.5%, in its monetary policy announcement.
On Wednesday, 1930 stocks advanced, 1824 declined and 141 remained unchanged, with an advance decline ratio of 1.05 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.