Nifty Broke Through 16000 Points For The First Time, And Sensex Broke Through 450 Points.
The increase in consumption tax, the recovery of auto sales and the rebound of factory activity in July indicate that the pace of economic recovery is accelerating and is driving market recovery.
The Nifty 50 Index, the benchmark index of the National Stock Exchange, broke through its important psychological level of 16,000 for the first time. The Sensex of 30 BSE stocks rose more than 450 points to a record 53,402.03 points, when economic indicators showed a faster pace of economic recovery.
The country’s manufacturing activity rebounded last month, and the GST collection increased by 33% to 1.16 million rupees, indicating a recovery in economic demand, which was hit hard by the second wave of the Covid-19 pandemic.
Bharti Airtel and Hindustan Unilever are the main drivers of the stock index.
The increase in consumption tax, the recovery of car sales and the rebound in factory activity in July all indicate that the pace of economic recovery has accelerated after the second wave of the Covid-19 pandemic.
Analysts said that buying behavior can be seen in all industries, because 9 of the 11 industry indicators compiled by the National Stock Exchange have traded higher, of which Nifty Pharma and FMCG index led the gains, with an increase of more than 1%.
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