OPEN APP
Home >Markets >Stock Markets >Most active week for Indian markets: Nithin Kamath says as Sensex sets new high
Sensex today ended 117 points higher at its fresh closing record of 50,731
Sensex today ended 117 points higher at its fresh closing record of 50,731

Most active week for Indian markets: Nithin Kamath says as Sensex sets new high

  • Zerodha co-founder said: This is by far the most active week for the Indian markets by trading volumes, a number of trades, and unique clients trading.
  • The Sensex has risen about 4,500 points or about 10% in just five days, its best since April 10

After Indian markets continued growth for full five days after a major slump, Nithin Kamath, Zerodha co-founder, says this is 'by far the most active week for the Indian markets'.

On Friday, Indian stock markets extended gains to the fifty day with Sensex rising 117 points or .23% and Nifty moving up by 28.60 points or 0.19% after the central bank kept interest rates unchanged but continued its accommodative stance to revive growth.

The BSE benchmark briefly crossed the 51,000 level, before closing at a fresh record of 50,731.63. Similarly, the NSE Nifty scaled the 15,000 mark during the day but shed some ground to close at its all-time closing high of 14,924, up 0.2%.

In fact, the Sensex has risen about 4,500 points or about 10% in just five days, its best since April 10, mostly after several optimistic measures were announced during the budget on Monday.

Following such remarkable growth, Nithin Kamath took to Twitter to say: This is by far the most active week for the Indian markets by trading volumes, a number of trades, and unique clients trading.

And adding a photo of SpongeBob shrieking in fear, he added: This is how people working at brokerage firms feel when there's a huge spike in terms of activity.

Nithin is often quick to respond to such market activities. As Sensex hit 50,000 mark earlier in January, Kamath, excited about the achievement, tweeted: Sensex hits 50000. The most painful market rally of all time. So many of my "expert" friends (and I) have been calling a top for many months now. So yeah, that is what you should make of expert opinions - maybe they work once in a while.

However, the momentary euphoria fell flat the day after as the market continued to fall for days after that.


Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout