What is Behind 1000-Point Spike in BSE-Sensex Today?

Photos: Pixabay/Pexels Photos: Pixabay/Pexels Written By: Rajeev Kumar Written By: Rajeev Kumar

[{"selector":"#anim-24e7b373-1d79-4d53-90f9-e9804ce9639f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-f209032a-eaa5-497f-a8a3-4062fe8994b4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d6c11b26-64d0-4370-bb03-6bae7cd3b1b2","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Just two days after BSE-Sensex plunged over 800 points, the market witnessed a record 1000-point rally today. Here are top reasons behind the spike Just two days after BSE-Sensex plunged over 800 points, the market witnessed a record 1000-point rally today. Here are top reasons behind the spike

[{"selector":"#anim-e3ac3f27-4d19-449e-8192-c86b3dc872ad [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-ea791926-4568-4294-92ef-956329b8f1dd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-893a58d5-9e73-4a28-9c71-d3b3757793d0","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] But first, if you are a stock market admirer, you will be pleased to know that Sensex hit a new intraday All-Time High (ATH) today. But first, if you are a stock market admirer, you will be pleased to know that Sensex hit a new intraday All-Time High (ATH) today.

A New High!

[{"selector":"#anim-161da133-ddbe-4199-b0f7-e77a94a867ca [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-98d2aaea-da38-482c-bb53-646fe63a6d4b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6f3a3974-bc80-4699-9f32-4924a92d7f20","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] By 12.27 pm today, Sensex was up 1014.82 points to 73,515. The Sensex also hit an ATH of 73574.02 intraday today! By 12.27 pm today, Sensex was up 1014.82 points to 73,515. The Sensex also hit an ATH of 73574.02 intraday today!

[{"selector":"#anim-fe6aaaf6-f3f3-4737-bb25-4658fbadfe40 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-b6ba3a49-822c-4966-8655-7b85e88c0442","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6d5e8bca-9d62-4975-bbed-8a87598afbaa","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Even Nifty 50 hit a new intraday all-time high of 22,295. At 11.48 am, Nifty was up 304.70 points to 22,287. Even Nifty 50 hit a new intraday all-time high of 22,295. At 11.48 am, Nifty was up 304.70 points to 22,287.

So what's behind the rally?

[{"selector":"#anim-aff8a70c-1031-4817-9900-60aa1dac3d4b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-3ad585c2-4a81-40b7-9c50-c9d6c7c37d46","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cfb650db-e08c-410c-b12c-1755d004397a","keyframes":{"transform":["translate3d(-114.41442%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Well, the biggest reason behind the current rally seem to be better than expected GDP rate for Q3FY24. Well, the biggest reason behind the current rally seem to be better than expected GDP rate for Q3FY24.

[{"selector":"#anim-ea96cc2d-4cb1-463c-b128-ee2f6c6899b1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-16e5f8af-c203-4304-a000-867505532ed4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74afbe93-4e64-491b-9030-56dba4a3de8b","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Belying predictions and surprising analysts, India's economy grew 8.4% in October-December quarter of FY 2023-24! Belying predictions and surprising analysts, India's economy grew 8.4% in October-December quarter of FY 2023-24!

[{"selector":"#anim-65a052cd-d0f4-400e-9b83-1a6474be130c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-01959f0f-98e1-4850-a124-a810c0f398b1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-33ab2aed-5a24-4929-8282-c59169731ff8","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Global markets were also on the rise today. S&P 500 and Nasdaq Composite settled at record highs. Japan's Nikkei also hit a fresh high! Global markets were also on the rise today. S&P 500 and Nasdaq Composite settled at record highs. Japan's Nikkei also hit a fresh high!

[{"selector":"#anim-37c3658c-c980-4afd-ad28-7b78c9bcae89 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-5f88c69b-35c7-4f23-b62a-007df33d3a61","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c8c93c89-aba3-4059-92b5-8baf54c0cfe9","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The US inflation data also aided the markets. The in-line U.S. inflation reading is in line with a possible rate cut in June by the Federal Reserve. The US inflation data also aided the markets. The in-line U.S. inflation reading is in line with a possible rate cut in June by the Federal Reserve.

[{"selector":"#anim-f9a5fe3a-ff96-46e5-819c-e6a5fc7fd3fc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-9f2eaa23-c47c-445e-8868-130c77021b12","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b414ae6c-a13f-42d0-b94a-3e7f1b043f67","keyframes":{"transform":["translate3d(-114.71471%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] FIIs are in buying mode this week. On Thursday, they bought net shares worth Rs 3,568 crores while DIIs sold shares worth 230 crore. FIIs are in buying mode this week. On Thursday, they bought net shares worth Rs 3,568 crores while DIIs sold shares worth 230 crore. Next: What 1 million dollars can buy in Mumbai, Delhi, Bengaluru Next: What 1 million dollars can buy in Mumbai, Delhi, Bengaluru See Next