Stock market (Share Market) is roaring once again. Today, the stock market made a long jump for the sixth consecutive day. On Monday, the BSE Sensex jumped 1,078.88 points to close at 77,984.38 points. At the same time, NSE Nifty rose by 323.55 points to 23,673.95 points. If you look at the rise of the last six days, the Sensex has climbed 4154 points. Let us tell you that on March 17, the Sensex opened at 73,830.03 points. Today i.e. on 24 March, the Sensex closed at 77,984.38 points. In this way, the Sensex has risen more than 4100 points in the last six days. Investors have also earned a bumper earning from the stock market. Stock market investors have earned 25.69 lakh crores in the last six days.
In fact, on March 17, the market cap of companies listed on BSE was Rs 3,92,80,378 crore. At the same time, when the market closed today i.e. March 24, it has increased to Rs 4,18,49,900.41 crore. Now the question arises that after a big fall, why has this great boom in the stock market returned? How far will this fast continue? Let’s answer all your questions.
Why did the stock market return?
- Return of foreign institutional investors (FII): Foreign institutional investors (FII), who are constantly selling continuous, have now become buyers in the Indian market again. FII has purchased three of the last four sessions. On March 21, FIIS purchased ₹ 7,470 crore, which strengthened the market notion.
- Improvement in domestic economic condition: Globally, there is concern about the US tariff (fee), but India’s strong economy and proper valuation attracted FII to shop back. This has increased shopping in the market.
- US Treasury Yield declines and rupee strong: The rupee has strengthened against the dollar. At the same time, there has been a decline of about 40 basis points in the 10-year Treasury Yield in the US. This has made investment in emerging markets more attractive. Investors are withdrawing capital from America and investing in markets like India.
- Technical strong: Technically, the market is also showing strength. The Nifty has created a strong white-body Maruboju candle last week and has almost made up for the loss of February.
Shares of these companies gain rally
Experts said that the positive attitude in American and European markets worked to support the perception of a boom in the domestic stock market. Among the Sensex companies, NTPC, Kotak Mahindra Bank, State Bank of India, Tech Mahindra, Power Grid, Bajaj Finserv, Axis Bank, HCL Tech, Reliance Industries and Bajaj Finance were the highest profit. On the other hand, the shares of Titan, IndusInd Bank, Jomato, Mahindra & Mahindra, Bharti Airtel, Nestle and Infosys saw a decline trend. According to the stock market data, foreign institutional investors (FIIs) on Friday made a net buying of shares worth Rs 7,470.36 crore.
Short covering promotes market boom
Prashant Tapse, Senior Vice President (Research), Mehta Ecuviums Limited, said, “Short coverings promoted the market boom before the end of this week before the disposal of monthly futures and option deals. The Sensex crossed the psychological level of 78,000 points during trading during the day due to all -round purchases. “Tapse said,” The American and European market strengthened business signal with fresh trust in foreign investors. “In other markets of Asia, the Shanghai Composite of China and Hangkang’s Hangkang’s handle closed down and the South Korean’s halts closed up in Asia markets. doing. Europe’s markets were trading within a positive scope in the afternoon session. The US market was in the lead on Friday. Meanwhile, global oil standard brent crude rose 0.07 percent to $ 72.21 per barrel. This was the sixth consecutive day in the domestic stock market.
Latest business news
