Today, on the first trading day of the week i.e. Tuesday, the stock market closed up sharply. The Bombay Stock Exchange’s flagship index Sensex gained 1.15 per cent to 505.72 points, closing at the level of 44655.44. At the same time, the National Stock Exchange’s Nifty gained 1.08 percent (140.10 points) to close at 13109.05. Indian stock markets, bonds and currency markets were closed on Monday to commemorate Guru Nanak Jayanti.
The pace of growth in the country’s manufacturing activities has slowed down again. The country’s manufacturing activities have fallen to a three-month low in November due to a decrease in factory orders, exports and purchases. The Manufacturing Procurement Managers Index (PMI) of IHS Market India declined to 56.3 in November from 58.9 in October. This is its three-month low. These figures show that manufacturing activities in the country remain strong, undoubtedly in November they have slowed down.
Investors will monitor the results of the RBI meeting, vehicle sales data, daily cases of Corona virus Covid-19 infection and news related to the Corona vaccine before investing in the market this week. Analysts said that the trend of foreign institutional investors, crude oil prices, rupee move and economic data released on Friday will also have an impact on the stock market.
Talking about the big stocks, today the shares of GAIL, Sun Pharma, IndusInd Bank, Tech Mahindra and UPL closed on the green mark. Nestle India, Kotak Bank, Titan, Bajaj Finance and HDFC Bank closed at the red mark.
If we look at the sectoral index, today all sectors except FMCG closed on the green mark. These include banks, PSU banks, private banks, finance services, pharma, media, realty, auto, IT and metals.
The stock market recorded a weekly gain last week. The Bombay Stock Exchange’s leading index Sensex gained 267.47 points, or 0.61 percent, to 44,149.72 points, and the National Stock Exchange’s Nifty jumped 109.90 points, or 0.85 percent, to 12,968.95 points. It is known that the index has recovered the entire loss in the year 2020. It closed at 41,306.02 on January 1, 2020. However according to analysts, further market volatility will continue. Hence investors should be cautious.