The central government has relaxed curfew hours, increasing the scope to open lockdown in the fifth phase. Its effect is also being seen on the domestic stock market. The stock market opened strongly on the first trading day of this month. Both the Sensex and the Nifty are witnessing Diwali. On the Bombay Stock Exchange, the 30-share sensitive index Sensex opened with a gain of 481 points at 32906, while the Nifty also started the trading today with a green mark.
Sensex bounces around 800 points in early trade 33,217.44 The Nifty has jumped 230.15 (2.4%) points to reach the level of 9,810.45. Today, Nifty Bank is trading above 3.74 per cent, Auto 2.35 per cent, Financial Services 3.46 per cent, FMCG 1.86 per cent. Apart from these, all sectors are on green mark today. Explain that the Ministry of Home Affairs said on Saturday that ‘Unlock-1 is going to start from June 8. Meanwhile, the lockdown implemented from March 25 will be significantly relaxed. Malls, restaurants and religious sites have been allowed to open since June 8. However, stringent restrictions will continue until 30 June in areas with Kovid-19 control.
This week macro economic data, global trend will decide market direction
The direction of the country’s stock markets will be determined this week by macroeconomic data, global signals and developments related to Kovid-19. Experts have expressed this opinion. Meanwhile, the economy has begun in a phased manner. This will also have an impact on the market. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said, “Opening the economy in a phased manner in line with the global trend will strengthen business sentiment.”
Lockdown is the main reason for unemployment, not economic crisis
Apart from this, it will also provide employment and income opportunities. The point to note here is that the main reason for the very high level of unemployment is the lockdown, not the economic crisis. He said that in such a situation we can expect that with the opening of the economy, employment and income will also increase. Analysts believe that the stock markets will also react to the data on gross domestic product (GDP) growth rate. These figures came after the market closed on Friday. In the fourth quarter of the last fiscal year 2019-20, the growth rate of GDP declined to 3.1 percent, while the growth rate for the entire fiscal has been 4.2 percent, which is its 11-year low.