The BSE Sensex added 356 points or 0.61% to a fresh top of 58,604 on Wednesday, boosted by reports that the Indian government would likely consider a production-linked incentive scheme for specific segments of the auto sector in a cabinet meeting later in the day. Traders welcomed a statement by Singapore's central bank that the city-state and New Delhi have agreed to link the payment services the Unified Payments Interface and PayNow by July 2022. In recent data, India's trade deficit was revised lower in August, with imports jumping 51.72% while exports rising at a softer 45.76%. Globally, Wall Street ended lower Tuesday due to concerns that markets are overvalued, while stocks in Asia mainly fell amid weak China's economic data for August. Bharti Airtel and Vodafone Idea rose 4% and 0.6%, each.
Historically, the India SENSEX Stock Market Index reached an all time high of 58744.03 in September of 2021. India SENSEX Stock Market Index - data, forecasts, historical chart - was last updated on September of 2021.
The India SENSEX Stock Market Index is expected to trade at 56681.42 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 52165.32 in 12 months time.