The BSE Sensex gained 101.9 points or 0.1% to 59,237.1 in morning deals on Monday, rebounding from a decline in the previous session, as the Silicon Valley Bank issue is unlikely to have near zero impact on Indian banking sectors. Traders welcomed the joint statement by the US Treasury, the Fed and the FDI Corporation that all the depositor's money will be safe. Investors now await India's annual rate inflation data in February later today that is expected to ease to a three-month low. Domestically, India's state minister for technology said on Sunday he will meet start-ups this week to assess the impact on them of SVB's collapse, as concerns rise about the fallout for the Indian start-up sector. Financial sectors, metals, and IT contributed to the advance, with Tech Mahindra saw strong gains (8.1%), alongside Adani Enterprises (1.8%), CCI Bank (1.1%), Bajaj Finance (0.8%). Market participants now await February US inflation data Tuesday.
Historically, the SENSEX Stock Market Index reached an all time high of 63583.07 in December of 2022. SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on March of 2023.
The SENSEX Stock Market Index is expected to trade at 57656.75 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 53440.42 in 12 months time.