The stock market started on the green mark on Wednesday, the third trading day of the week due to the continuous flow of foreign funds. But after the day’s ups and downs, it closed flat. The Sensex declined and reached below 49500, while the Nifty closed with a slight gain of 0.01 percent. The Bombay Stock Exchange’s leading index Sensex gained 24.79 points (0.05 per cent) to end at 49492.32. At the same time, the National Stock Exchange Nifty gained 1.40 points to close at 14564.85. Last week, the Sensex gained 913.53 points, or 1.90 percent, while the Nifty gained 328.75 points, or 2.34 percent.
Telecom major Bharti Airtel has got the necessary regulatory approvals for 100% foreign direct investment (FDI) in its downstream companies. In a regulatory filing, the company said it was beginning the process to revise its foreign investment limit to 100 per cent with immediate effect, which has been communicated to the depositors. In the regulatory filing, the company stated that the company has obtained approval for its downstream investments in compliance with the FDI approval of 20 January 2020 granted to the company by the Department of Telecommunications. Since then, the stock of Bharti Airtel has seen a boom. After opening at 588 level, it closed at 576.30 level, up 10.55 points (1.86 per cent) in the morning.
Actually 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.
Talking about the big stocks, today the shares of SBI, M&M, Adani Ports, IOC and NTPC closed on the green mark. The shares of Bajaj Finance, Shree Cement, HDFC, UPL and Bajaj Finserv closed at the red mark. If we look at the sectoral index, then all the sectors except realty, finance services and pharma closed on the green mark. These include FMCG, IT Bank, Media, Private Bank, Metal, PSU Bank and Auto.
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.
Today the Sensex opened around 50000 in early trade. It started at the level of 49,733.39, up 216.28 points (0.44 per cent). At the same time, the Nifty opened 67 points (0.46 per cent) at 14,630.50 level.
The stock market closed at record levels on Tuesday. The Sensex was up 247.79 points at 49517.11, up 0.50 percent. The Nifty closed at the level of 14563.45 with a gain of 78.70 points (0.54 per cent).