The stock market closed on the green mark on Monday on the first trading day of the week due to the all round rally. The Bombay Stock Exchange’s flagship index Sensex once again made history and crossed the 49000 mark. After a day’s ups and downs, it rose 486.81 points to 49269.32, up by 1.00 percent. At the same time, the National Stock Exchange’s Nifty gained 137.50 points (0.96 percent) to close at 14484.75.
Since November 9, the Sensex has gained 16.5 points in two months. During this time it increased by 7000 points. ONGC, Bajaj Finserv and L&T were up 40 per cent each.
Due to positive global trends and the advent of heavy FPIs, the day’s trend continued throughout the day and the total market capitalization of listed companies on the BSE crossed Rs 196 lakh crore. Last week, the Sensex gained 913.53 points or 1.90 percent, while the Nifty gained 328.75 points or 2.34 percent.
Talking about big stocks, today shares of Wipro, Infosys, Tata Motors, HCL Tech and HDFC closed on the green mark. Tata Steel Adani Ports, Bajaj Finance, Bajaj Finserv and Reliance shares closed on the red mark.
If we look at the sectoral index, today all sectors except banks, media, private banks, metal and PSU banks closed on the green mark. These include FMCG, IT, Pharma, Realty, Finance Services and Auto.
The market opened for the first time beyond 49 thousand on the strong quarterly results of the country’s leading software company Tata Consultancy Services (TCS). TCS profit grew 7.2 percent in the last quarter of 2020 and the company’s stock is trading above 1 percent.
So far in January, foreign investors have made a net investment of Rs 4,819 crore. However, it is Rs 9,264 crore in provisional figures. On Friday, more than 6000 crores was invested. A total investment of Rs 62000 crore was made in December. The news of the announcement of a new relief package in the US gave rise to global stock markets on Friday. South Korea’s Kospi was up 3.97 percent. Hong Kong’s Hang Seng closed up 1.20 percent, Japan’s Nikkei index 2.36 percent, the US Nasdaq index 1.03 percent and the S&P 500 index rose 0.55 percent. At the same time, China’s Shanghai Composite remained down. In addition, Europe’s stock markets also saw growth.
Analysts predict that the move of the domestic stock market will be decided by the announcement of inflation and other economic data this week and the quarterly results of the companies as well as the global trend. The Indian stock market closed almost at a new record high last week on positive global outlook, news related to Kovid-19 vaccine and hopes of economic revival. This is the trend in the market for the last few weeks. Quarterly results of companies like Infosys, Wipro and HCL Technologies Ltd are to be released this week.
Last week, the market capitalization of seven of the country’s top 10 valued companies increased by Rs 1,37,396.66 crore. Tata Consultancy Services (TCS) benefited the most. Apart from this, HDFC Bank, Hindustan Unilever Limited (HUL), Infosys, HDFC, ICICI Bank and Bharti Airtel were also profitable. Market capitalization of Reliance Industries Limited, Kotak Mahindra Bank and Bajaj Finance declined.
The Sensex touched an all-time high in early trading today. The Sensex opened 329.33 points (0.68 percent) at 49,111.84. The Nifty opened 83.90 points (0.58 percent) at 14,431.20. The stock market strengthened on Friday. The Sensex gained 689.19 points to close at 48782.51, up 1.01 percent. The Nifty closed at 14347.25, gaining 209.90 points (1.48 percent).