Sensex and Nifty Closes Record High Before Christmas led by ONGC

Sensex price reaches a record high of 33, 940.30 with a constant rise since last week. Nifty too shows constant rise closing at 10, 493 today. Growing optimism of investors in government policy can be the key reason behind it.

Top Gainers on SENSEX

Company	Price	Gain
ONGC	193.4	2.87%
TCS	2639.8	1.76%
Infosys	1038.4	1.65%

Top Gainers on Nifty

Company	Price	Gain
ONGC	193.4	2.87%
Bajaj Finance	1782.45	1.97%
TCS	2646.75	1.97%

Investors Optimistic for New Year 2018

The last one week has seen a constant rise in share market. The Monday election results saw an initial fall but the market did well at the end of the way as the BJP government won both the elections. Since then the market did well and the Sensex kept on rising to the present of 33, 940.30.

One can expect the market to rise constantly as investors are confidant and optimistic about the government’s policy. Recent reports by international agencies too increased the confidence of investors in Indian market. One can expect this Christmas to be a great one with the upcoming New Year.

India welcomes assessment of the Indian financial system undertaken by the joint IMF-World Bank team conforming to the highest international standards. The Second comprehensive FSAP has now been successfully conducted for India in 2017.

— Ministry of Finance (@FinMinIndia) December 21, 2017

FSAP 2017 acknowledges Increased diversification, commercial orientation & technology-driven inclusion have supported growth in the financial industry, backed with improved legal, regulatory & supervisory frameworks.

— Ministry of Finance (@FinMinIndia) December 21, 2017

The government has already started planning for the next year budget where its key priorities will be jobs, infrastructure, farm growth and tax reforms. The government has already formed a panel for direct taxes and corporate taxes.

If in the next budget the government relaxes corporate taxes then it would be a boon for the investors. The government is keen to relax laws and tax regulations in order to promote businesses in order to satisfy the job requirements. The next year seems to be rewarding for the market.

Sensex and Nifty in 2017

Share market in 2017 saw a great rise. Sensex started at 26, 711.15 on Monday January 02, 2017 and since then kept rising. On April 26, 2017 the Sensex touched 30, 000 mark and closed at 30, 030.20. A brief period from August and September saw a slowdown in the market when the market struggled at 31K to 32K mark.

The Sensex presently is on its verge to cross the 34K mark anytime soon. One can expect it by the end of 2017. On the other hand, Nifty too saw a positive rise. Nifty opened at 8210.10 on January 02, 2017 and closed at 8179. Nifty continued to rise and crossed the 10K mark on July 25, 2017 when it touched 10, 011.30. Since then it has kept on fluctuating and is presently at 10, 493.