The positive sentiment of global markets and the inflow of foreign funds has strengthened the stock market sentiment on Monday, the first trading day of the week. The Bombay Stock Exchange’s flagship index Sensex gained 0.44 per cent to close at the level of 44077.15, up 194.90 points. At the same time, the National Stock Exchange’s Nifty gained 0.52 percent (67.40 points) to close at 12926.45 level. 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.
Foreign Portfolio Investors (FPIs) have infused Rs 49,553 crore into Indian markets so far this month. Global indicators have improved after high liquidity conditions and confusion over US presidential elections, leading to increased FPI investment in Indian markets. FPIs have invested a net Rs 44,378 crore in shares and Rs 5,175 crore in the debt or bond market during November 3–20.
The stock market move this week will depend on the growing cases of corona virus and settlement of derivatives contracts. Due to this, the stock markets will remain volatile this week. Experts said that apart from news related to Covid-19 vaccine, discussion of incentive measures in the US and global trend will determine the direction of the market.
Talking about the big stocks, today the shares of Idusind Bank, ONGC, GAIL, Dr. Reddy and Infosys closed on the green mark. On the other hand, Axis Bank, HDFC, ICICI Bank, SBI Life and Titan’s shares closed on the red mark.
If we look at the sectoral index, today all the sectors, except PSU bank, bank, private bank and finance services closed on the green mark. These include pharma, media, FMCG, IT, realty, metal and auto.
Today the stock market was open on the green mark. The Sensex opened up 350.09 points (0.80 per cent) at the level of 44232.34. At the same time, the Nifty started with a gain of 95 points (0.74 per cent) at 12954.
The stock market had closed higher on the previous trading day on positive global cues. The Sensex was up 282.29 points at 43882.25, up 0.65 percent. At the same time, the Nifty closed at 12859.05 with a gain of 0.68 per cent (87.35 points).