Host Of Positives Influencing Sensex's Rally To 39000 Levels: Here Are Some of These

Indian indices are by and large influenced by global stock indices and just after the close of stock markets, news came up that US President Trump has contracted Covid 19, though the fall that global indices saw on account of the news not that scary with maximum 2.2% drag on Nasdaq.

Host Of Positives Influencing Sensex's Rally To 39000 Levels: Here Are Some of These

Now some of these global as well as domestic cues have helped Indian indices gain over 1 percent in October 5, 2020 deal:

1. President Trump may be discharged:

Trump is signaling remarkable recovery and there are news airing that he may even be discharge which may to an extent reduce the uncertainty plaguing the financial markets.

2. Petrol, Diesel sale back to pre-Covid 19 levels:

The recovery on fundamentals is now showing up fundamentally and sale of petrol and diesel is also back to pre-Covid levels and this is imminent from the auto sales number which have even seen good resilience in the month passed by.

3. Street anticipates good quarterly numbers from IT pack:

From October 7, the Q2FY21 earnings season shall commence with TCS being the first to announce its results and brokerages across the industry have been hopeful of yet very good earnings on account of robust revenues outlook.

4. SC gives additional time for other stakeholders, next hearing on Oct 13

This shall be a big relief to corporate entities and this has already served individual borrowers with a huge relief as they are granted moratorium for another 2 years. But the SC today allowed other stakeholders to submit their view and adjourned the matter further, the move however weighed on banking stocks, with Bank Nifty last trading 22540, up just 1.39 percent against day's high of 22768 points.

5. GST collection inched for September month, the most since March:

GST collection for the September hinted at possible recovery from the slowdown came in better than March's fugures.

So, for now the markets are seeing resilience on account of improvement in fundamentals and not because of liquidity push.

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