The stock market closed on the red mark after day-long fluctuations

Today, on the first trading day of the week i.e. Monday, the stock market closed on the red mark after day-long fluctuations. The Bombay Stock Exchange’s flagship index Sensex closed down 470.40 points, or 0.96 per cent, at 48564.27. At the same time, the National Stock Exchange’s Nifty fell by 152.40 points (1.06 per cent) to close at 14281.30.

Investors are worried about investment before the Union Budget because according to most market analysts, due to Corona, this time budget will not be as expected. Hence the market continues to fluctuate. Binod Modi, strategy head of Reliance Securities, said that at present, domestic markets are not looking encouraging. Last week, the 30-share BSE Sensex gained 252.16 points or 0.51 per cent. The National Stock Exchange’s Nifty climbed 86.45 points or 0.60 percent.

The direction of the stock markets will be determined by the quarterly results of companies and global developments this week. Analysts say the market may fluctuate before the upcoming general budget. Apart from this, the investors will be watching the developments related to Kovid-19, especially the vaccination campaign in the country. Quarterly results of Bank of Maharashtra, Bajaj Finance, Federal Bank, Asian Paints, Bajaj Auto and Reliance Industries are due this week. Domestic markets will be focused on banking and financial sector this week amid weak trend in global markets. Traders said that after the introduction of vaccination in the country, there can be a lot of change in the share prices.

The stock market closed on the red mark after day-long fluctuations
The stock market closed on the red mark after day-long fluctuations

Japan’s Nikkei index is trading down 0.85 percent in Asian markets. The Kospi index of South Korea is trading at 0.90 per cent. However, China’s Shanghai Composite Index and Hong Kong’s Hangseng Index are trading up by 0.41 per cent. Earlier, European and American markets closed down.

Talking about the big stocks, shares of UPL, Reliance, Titan, HDFC Bank and Eicher Motors closed on the green mark today. Tata Motors, Tata Steel, ONGC, Hindalco and JSW Steel closed at the red mark.

During the trading today, shares of the legendary FMCG company ITC (ITC) rose today and reached Rs 221 on BSE, its 11-month high. However, it finally closed at 219.55. ITC shares have gained 10 per cent in the last one week.

Gautam Adani-led Adani Group on Monday said global energy company Total has acquired a 20 per cent equity stake in Adani Green Energy Limited. The deal is for $ 2.5 billion. It is the second partnership between French company Total and a company of Adani Green. In 2018, Total bought 37.4 per cent stake in Adani Gas Ltd and 50 per cent in Dharma LNG project. Today the stock of Adani Green Energy Ltd. closed at 955.95, up 8.20 points (0.87 per cent) after opening at 945 level.

If we look at the sectoral index, then all the sectors closed on the red mark. These include FMCG, PSU Bank, Pharma, Auto, IT, Bank, Media, Private Bank, Metal, Realty and Finance Services.

The year 2020 was a big development for the stock markets. In March 2020, the corona virus epidemic hit India. The corona virus also did not leave the stock market untouched. The domestic market fluctuated. While the stock market went bust in March, the Sensex-Nifty recovered the entire loss in 2020 at the end of the year.

The stock market closed on the red mark after a day’s ups and downs on Friday. The Sensex was down 549.49 points, or 1.11 per cent, to close at 49034.67. At the same time, the Nifty was down by 161.90 points (1.11 per cent) to close at the level of 14433.70. The domestic stock market was open on a decline today amid mixed global cues. In early trade, the Sensex opened at a level of 48,977.86 with a weakness of 56.81 points (0.12 per cent). At the same time, the Nifty started by 21.70 points, or 0.15 per cent, at the level of 14,412.