Stock market surge: 5 reasons which pulled Sensex, Nifty up

File photo Photograph:( PTI )

WION Web Team Mumbai, Maharashtra, India Jul 12, 2018, 02.41 PM (IST)

The benchmark BSE Sensex scaled a new high of 36,699.53 and the Nifty climbed to 11,078 after RIL m-cap touched the $100-billion mark.

Top five Sensex gainers were Reliance, YES Bank, HDFC, L&T and HUL, while the major losers were M&M, Bajaj Auto, Infosys, Vedanta and Hero MotoCorp.

Asian stocks posted modest gains after a bruising sell-off in the previous session, despite lingering concerns around escalating US-China trade war.

Here are five reasons why stock markets are at an all-time high

1: Global trade war is a reality: Indian markets feel they will not harm them, not much of a problem. Earlier, there was uncertainty, now it's clear that trade wars are here to stay and there are no surprises for India

2: Stable crude price: Crude is more or stable for the last many days -  especially after OPEC meeting last month in Austria.

3: Monsoon is nearly on track: The equity market reacts to IMD's monsoon forecasts. A deficient rainfall forecast results in a dip in the equity market the following day, while normal rainfall forecasts can result in some gains.

4: India becomes world's sixth largest economy: India's gross domestic product (GDP) was valued at USD 2.597 trillion at the end of 2017 overtaking French economy, which was amounted at USD 2.582 trillion last year.

5: Economic growth: The Indian economy is growing, GST and DeMo have not caused that much disruption and they are paying off now. Corporate performance is good. No major headwinds in the Indian economy.