India’s benchmark stock index BSE Sensex closed at 84058.9 points on Friday. The Sensex has crossed the 84000-mark for the first time since October 1, 2024 and it is just 2% short of its all-time high of 85836.12 on September 26 2024. The Sensex is now up 7.2% on a year-to-date.
What explains this movement in the market? Foreign Institutional Investors (FIIs) coming in once again have generated the recent tailwinds. But it is the Domestic Institutional Investors (DIIs) which sustained the market when it was faced with FII exodus. Here is a more detailed take on what has happened.