STILL SENSEXY@70 FROM 60K TO 70K, INVESTOR WEALTH RISES 36% As Global Mkts Struggle, Des! Factors Drive India's Stocks : Mumbai: In the Chinese ye: ar of rabbits, bulls in India : are having agreatrun on Da: lal Streel. Buoyed by healthy : growth projections, a strong : mandate in the recently-con: cluded assembly elections : and improving inflation out: look, the sensex ort Monday : scaled mount TORK, having ad: ded nearly 3,00 points in the : last seven sessions. : On Monday, the sensex : crossed the long-anticipated : milestone in early trades and : showed asteady trend till the : close. R recorded a new all-ti: me high at 70,058 points and : closed a tad off the peak at : 69.929 points, up 103 points. : On the NSE, the nifty for the : second consecutive session : crossedthe 21K mark but aga: in closed below that mark. at : 20,997 points, Up 2H points. The sensex took 549 ses: sions in its journey from the ;60,000 mark to 70,000. Compa: red tu this, the fastest such : 10K milestone was achieved : in 166 days, when the sensex : hadraced away tothe 60K mi: lestone from the SOK mark. This time, a host of do : mestic factors acted as tail: winds for the Indian market during the past two years. (hn : the other hand, most of the : other markets around the LH wa 34,7198 How much would 31 lakh be worth today if invested the day sensex -d% 69,929, had crossed 60K Worth (%) 2 = 88837 Il Brent 95,582 w | Bitcoin | 98,742 = 60,048 Sensex Sensex Shanghai Dow Jones | g7 1 112179 16.5% -17.2% 4.2% | i g o S '____L______a.le.uuswd i f i 1] "Sep 24, 2021 | oo L__[1,3479%5 SLOWER RISE TO NEW PEAK Top 3 gainers ll_" 7 e, At 549 days, this is the slowest LOK rise | since Sept 24, '21 "4 LT since sensex hit 40,000 Milesione 10k Feh "06) sesslons Oct 07 ok Mar'15)% May '19 an 21] 60k Sep 21) TOK Dec 13) ource: ETIG Database world struggled with multiyvear high inflation that followed an unprecedented streak of interest rate hikes by central banks, war clouds in Europe and West Asia, a Significant bark failure in the US and volatile crude oil priCes, In contrast, in India, strong economic fundamentails like robust growth in tax collections, a relatively stable currency, foreign exNo.of Mrcapateack miestoae? . Vo 208 1 (in 7 Ler) RISKS | JRIWERS The forthcoming Lok Sabha | strong domestic inflows elections in mid-2024 could | backed by recard monthly heighten volatility SIP flows RBI warning that food price | Resilient domestic inflation couid spike inthe | macro-economic next twa months fundamentals Muted FIl buying as US eco | RBI's apt handling of the continues to grow E monetary side of the eco change reserve that's near the record-high level and a not-so-high interest rate bo osted investor sentiment. Strong corporate earnings Erawth with timely sectoral rotations also aided the rally All these factors took the sensex and the nifty to record high levels, market players said. pContinuedon P17 Signs of profit booking seen in mkt: Analysts Continued from page 1 trong corporateearnings Y growth with timely sec_.7 toral rotations also aided the rally All these factors took the sensex and the nifty to record high levels, market players said. In Monday's market, as wasseen in most of therecent sessions, on Monday too foreign portfolio investors FPIs) were net buyers at Rs 1,261 crore. So far in the month, this influential group of investors have net pumped in over Rs 32000 crore through Stocks. Although FPIs usually capture the limelight by their sheer volume of trades in the Indian stock market, data shows that it's the domestic mutual funds that have emerged to be the real counterbalance when foreign funds sell aggressively. Consider this: Between October 2021 soon after sensex crossed 80K mark) and Munday foreign funds arestill net sellers at about Rs 24,500 crore. In contrast, the domestic mutual funds have net pumped in nearly Rs 4 lakh crore into the stock market. The result: The sensex has gained about 16% during this period, investors' wealth has gone up by about Rs 95 lakh crore and the Indian market is now the fifth largest in the world in terms of market cap. While some FPIs do see inflows when the indices go up and sell when indices fall (Per Five cos to float public offers this week New Delhi: The IPO lane is getting crowded as five COMpPanies, including India Shelter Finance and DBOMS Industries, have lined up public offers this week on favourable market conditions. The other three companies whose maiden public issues are slated to open are Inox Group entity Inox India, Jatpur-based retail jewellery company Matisons Jewellers and Mumbai-based Suraj Estate Developers, according to their Red Herring Prospectus (RHPs). Together, these companies are estimated to raise at least Rs 4,200 crore, This comes on the back of LG companies successfully concluding their maiden public issues last month. The list included the IPO initial Public Offerings) of Tata Technologies, which was the first campany from the Tata Group to float an initial share sale in nearly two decades, AaEwcIEs the investment mandates of momentum and select hedge funds), MP's have one steady source of inflows, namely systematic investment plans. Monday's record high index levels after consecutive sessions of gains may kick im profit taking by some investors, resulting in a brief market correction. According to Vinod Nair, Head of Research, (recjit Financial Services, As the sensex crossed the 70,000 level on Monday, signs of profit booking were evident at higher levels "as traders anticipated clues from (Tuesday's) significant data releases on inflation fromthe US and India, as well as the IIP." "The better-thanexpected US job data and a moderate increase in US bond yields from the recent lows, however, also encouraged investors to book profits at higher levels," Nair wrote inanoteto investors. Looking ahead, in the next few days markets are likely to consolidate in a range given global central banks are set to announce policy outcomes this week, said Siddhartha Khemka, head, retail research, Motilal Oswal Financial Services.