Bombay Stock Exchange - BSE Stock Updates

BSE Stock Surpasses LIC Housing Finance Market Cap, Hits Fresh High; FIIs and DIIs Holding Increased

In the bustling afternoon trading session, the Indian markets showcased a positive trend, with the Nifty index edging closer to the significant 22,500 mark, while the Sensex continued to soar above the 74,000 level.

The market breadth painted a healthy picture, with 1608 stocks advancing, outnumbering the 508 stocks that witnessed declines. This robust breadth indicates a strong performance by the broader market indices, underlining the prevailing positive sentiment among investors.

BSE Ltd: Scaling New Heights

One standout performer amidst this buoyant market scenario is BSE Ltd. The stock surged over 3% to achieve a fresh all-time high of 2854 on Wednesday, catapulting its market cap beyond the Rs 38,500 crore milestone. Impressively, the stock has witnessed a remarkable 533% surge over the past year, with a notable 26.21% jump in the last three months.

Technical Analysis: Bullish Signals Abound

Technically, BSE Ltd’s daily chart reveals a breakout of a cup-like pattern, spanning 36 days with a depth of nearly 25%. The stock comfortably maintains its position above key moving averages, residing approximately 19% and 63% above the 50-day and 200-day moving averages, respectively. Furthermore, the daily MACD trend indicator points upwards, sustaining above its nine-period average, corroborating the bullish bias in the stock. The 14-period daily RSI indicator has also surged to mark a fresh swing high, indicating a rising trajectory.

Institutional Interest on the Rise

Institutional investors have shown a growing interest in BSE Ltd, as evident from the quarter ended December 2023 shareholding pattern. Foreign Institutional Investors (FIIs) substantially increased their stake in the company from 7.90% to 12.01% during this period, with the number of FII investors surging from 230 to 381. Mutual Funds also augmented their holdings, from 4.80% to 7.80% in December 2023.

Ace Investor’s Confidence

The shareholding pattern further reflects the confidence of ace investor Mukul Mahavir Agrawal, who holds 1.48% shares of the company, amounting to 20,00,000 shares. This endorsement from a seasoned investor adds another layer of credibility to BSE Ltd’s growth trajectory.