As BREXIT Fears Fall NIFTY Reached At 8 Month's HIgh

Nine sectoral indices on the BSE also posted their best quarterly performance since June 2014

Since 2014, Nifty, Sensex Climbs at Highest Quarterly Gains.

On Thursday  National Stock Exchange’s (NSE) benchmark equity index Nifty closed at an eight-month high.  With the gain in Asian markets and BREXIT fear waned, foreign investors are attracted due to stable macroeconomic situations.

The Nifty and Sensex declared their highest quarterly gain since 2014, when the current prime minister shri Narendra Modi took charge. In this period Nifty and Sensex gains 7.1 and 6.54 respectively.

BSE (Bombay Stock Exchange ) also posted their best quarterly gain since 2014.  Larsen & Toubro Ltd and NTPC Ltd gained the most in the quarter 23.02% and 21.43% respectively.

On Thursday, Sensex gained 259.33 points. 

The BSE mid-cap index rose 1.26% to close at a record high of 11,717.22 points, while BSE small-cap index rose 0.94% to 11,801.32 points

Deven Choksey, group managing director and KR Choksey Investment Managers Pvt. Ltd said that "Emerging markets packs, including India are showing good amount of resilience from Brexit. Money is bound to flow in places where there is growth"

Choksey also said that "Britain will require other trade partners after departure from EU (European Union), and in Asia, India is a preferred choice".

Market was choppy in late trade on Thursday due to expiry of the monthly derivatives contracts, but the traders seem to be taking bullish bets as the market enters the July series of derivatives contracts.

BSE realty index and BSE power index were the top gainers, as they rose 2.39% and 2.19%, respectively.

Only two of 30 Sensex stocks closed in the red on Thursday. Dr. Reddy’s Laboratories Ltd and NTPC topped the gainers’ list, with a 3.38% and 3.17% rise respectively. 

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