The S&P BSE Sensex rose 222 points or 0.4% to 52,668 around midday on Thursday, rising for the first time in four sessions, after the US Fed signaled it was in no rush to exit stimulus and said accelerating inflation remained the result of transitory factors. The sentiment was also supported by reports that mortgage applications in the US were up 5.7% in the week ended July 23rd, rebounding from a 4% drop in the previous week. Meantime, wholesale inventories in the US went up 0.8% mom in June, the eleventh consecutive month of gains, despite the rate growth slowed. In business news, Maruti Suzuki India missed estimates for quarterly profit margins Wednesday as rising raw material costs offset a robust demand for its vehicles. Tech Mahindra, TVS Motor Company, Colgate-Palmolive (India), and LIC Housing Finance will report results later in the day.
Historically, the India SENSEX Stock Market Index reached an all time high of 53290.81 in July of 2021. India SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on July of 2021.
The India SENSEX Stock Market Index is expected to trade at 51448.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 47218.20 in 12 months time.