For the domestic stock market, the past week has been up. During this period, the Sensex gained 4445.86 points and the Nifty gained 1289.65 points. Today, on the first trading day of the week i.e. Monday, the stock market closed on the green mark. The Bombay Stock Exchange’s leading index Sensex closed up 613.14 points, or 1.22 per cent, at 51348.77. On the other hand, the National Stock Exchange’s Nifty closed at 15115.80 with a gain of 191.55 points (1.28 per cent). This is the highest level of the index at market closing.
Analysts said that there are no major economic developments this week, so companies’ quarterly results and global indicators will play an important role in guiding the market. He said that big developments like the budget and monetary review of the Reserve Bank have been passed. In such a situation, the investors’ perception will again decide the basic factors. The BSE 30-share Sensex has gained about 9.6 per cent in the past week. Due to good budget and quarterly results of companies, market sentiment has been positive in the long term. However, analysts believe that after a strong surge last week, there may be some correction in the market this week.
Talking about the big stocks, today the shares of Tata Motors, Hindalco, M&M, JSW Steel and Shree Cement closed on the green mark. The shares of Britannia, Hindustan Unilever, Divis Lab, Kotak Mahindra Bank and Bajaj Finance closed at the red mark.
Siddharth Khemka, head of retail research, Motilal Oswal Financial Services, said, “We believe this trend will continue in the market going forward.” The direction of the market will be determined by fundamental factors such as financial results of the companies. Strong future projections of companies with the budget confirm the positive market structure in the long run.
If we look at the sectoral index, today all the sectors, except PSU bank and FMCG, closed on the green mark. These include IT, private banks, auto, media, realty, banks, pharma, metals and finance services.
The Sensex ended 117.34 points or 0.23 per cent higher at 50731.63 on Friday. At the same time, the Nifty closed at 14,924.25 level with a gain of 28.60 points (0.19 per cent). This is the highest level of the index at market closing.
The Sensex opened 473.04 points (0.93 per cent) higher at 51204.67 level in early trade today. At the same time, the Nifty opened at 15060.95 with a gain of 136.70 points, or 0.92 per cent.