A morning walk down Dalal Street | Decline in VIX suggests short term stability

Episode 1235,   May 27, 2019, 01:30 AM

Sensex and Nifty50 hit fresh record highs, and investors' wealth rose by over Rs 6 lakh crore for the week ended May 24 as Mr. Market cheered the continuity of reform process and the end of political uncertainty, as Narendra Modi is set to become the Prime Minister for a second consecutive term.

The S&P BSE Sensex which touched a record high of 40,124.96 closed the week with gains of over 1,500 points or 3.97 percent while Nifty50 which hit a record high of 12,041 closed with gains of 437 points or 3.8 percent in the same period.

The average market capitalisation of BSE listed companies rose from Rs 146.58 lakh crore recorded on May 17 to Rs 152.71 lakh crore on May 24 which translates into a rise of Rs 6.1 lakh crore in just 5 trading sessions.

The rupee on Friday rallied 49 paise to close at 69.53 against the dollar in line with a massive surge in domestic equities following a decisive mandate for PM Narendra Modi's BJP in the general elections.