Today, on the last trading day of the week i.e. Friday, the stock market closed on the red mark after the day’s ups and downs. The Bombay Stock Exchange’s major index Sensex ended 549.49 points, or 1.11 per cent, down at 49034.67. At the same time, the National Stock Exchange’s Nifty lost 161.90 points (1.11 per cent) to close at the level of 14433.70.
Last week, the Sensex gained 913.53 points, or 1.90 percent, while the Nifty gained 328.75 points, or 2.34 percent. 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.
The impact of the new relief package in the US was seen in the markets around the world. Among Asian markets, Japan’s Nikkei index closed down 0.68 percent. South Korea’s Cospi index was down 2.09 percent and China’s Shanghai Composite Index closed flat. However, Hong Kong’s Hangseng index gained 0.41 percent. The Dow Jones closed down 69 points in the US markets yesterday and the Nasdaq 0.12 per cent and the S&P 500 index closed down 0.38 per cent.
It has been more than a decade since the total market capitalization of listed companies in the stock market exceeded the country’s GDP. Earlier this was seen in the year 2007 when the market capitalization of companies exceeded 100 percent of the country’s gross domestic product (GDP). According to the National Statistical Office (NSO), the country’s GDP is estimated to be Rs 195 lakh crore in FY 2020-21, which is lower than the total market cap of listed companies on the BSE. On 14 January 2021, the market cap was Rs 197 lakh crore, which means the country’s GDP is 99 percent of the total market cap.
Talking about the big stocks, shares of UPL, ITC, Grasim, Bharti Airtel and Grasim closed on the green mark today. The shares of HCL Tech, Tech Mahindra, Wipro, GAIL and ONGC closed at the red mark. 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 stock market was also not untouched by the corona virus. The domestic market fluctuated. While the stock market went bust in March, at the end of the year, the Sensex-Nifty recovered the entire loss in 2020.
The Sensex opened at a level of 49544.43 with a weakness of 39.73 points (0.08 per cent) in early trade today. The Nifty was at 14595.60 with a change of 0.00 per cent. After this, the Sensex was at the level of 49033.55 with a weakness of 550.61 points (1.11 per cent) at 2.29 pm. The stock market closed on the green mark on Thursday after day-long fluctuations. The Sensex had ended at 49584.16, up 91.84 points or 0.19 per cent. The Nifty closed at 14595.60 with a gain of 30.75 points (0.21 per cent).