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/PRNewswire/ -- In 2017, the food enzymes market was valued at USD 2,034.01 million. From a regional perspective, North America held the largest market share,...
We mentioned yesterday that the indices may bounce back a bit. After remaining weak for the first half of the session, the main indices bounced bank and closed in the green. On Wednesday, 2179 stocks advanced, 1597 declined and 114 remained unchanged, with an advance decline ratio of 1.36 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.
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.
We mentioned yesterday that the markets may pause for breath. On Thursday, 2196 stocks advanced, 1568 declined and 121 remained unchanged, with an advance decline ratio of 1.40 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.
India's market cap has reached an impressive $4 trillion, reflecting a market cap to GDP ratio of 1.2, indicating stretched valuations. Despite this, short-term market movements are expected to outpace fundamentals. The recent surge to record highs has been propelled by Foreign Institutional Investors (FIIs) turning buyers for five consecutive days while Domestic Institutional Investors (DIIs) continuing their buying. Positive exit poll results further fuelled this upward momentum, creating a distinctly bullish market sentiment.