Sensex jumps over 1,000 pts, Nifty breaches 17,200 : Rashtra News #Sensex #jumps #pts #Nifty #breaches Equity benchmark Sensex surged past the 57,000-mark by rallying over 1,000 points on Thursday, tracking an overall bullish trend in global equities despite the US Federal Reserve hiking rates. The 30-share BSE index closed 1,047.28 points or 1.84 per
Kotak Institutional Equities highlights the flawed rally in PSU stocks driven by bullish sentiments and incorrect valuation methodologies. The rally lacks meaningful change in fundamentals or structural reforms. Concerns arise about the long-term viability of PSUs due to reinvestment in sunset industries and government policies.
BEML share price: The stock has slipped 18.60 per cent from its one-year high value of Rs 4,139.40, a level seen earlier this month on February 2. Despite the mentioned drop, it has rallied 198.41 per cent from its 52-week low of Rs 1,129.10, hit on march 16 last year.
When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.
Shares of defence-related companies declined due to profit booking after the 2024 Interim Budget speech, which raised allocations for the defence sector. The total capital outlay for defence is now Rs 6.2 lakh crore, an increase of 4.4% from the FY24 budget. The government had previously increased the defence budget by 13.8% to Rs 5.94 lakh crore in FY24. Finance Minister Nirmala Sitharaman also announced a new scheme for strengthening deep-tech technologies for defence purposes.