Despite the weakness in the Asian market, today the stock market opened with a good jump.
Mumbai:
On Monday, October 4, 2021, there has been a weakness in the Asian markets, despite this, there has been a rise in the domestic stock markets. The BSE Sensex registered a jump of 381 points with the opening today, while the Nifty 50 remained above its psychological level 17,600. The effect of rally in the shares of Reliance Industries, HDFC, HDFC Bank, ICICI Bank, Infosys, Bajaj Finance and State Bank of India was visible today. Sensex opened at the level of 59,060.48 with a jump of 294.90 points i.e. 0.50% in the opening. At the same time, Nifty opened at 17,615.80 with a gain of 83.80 points i.e. 0.48%.
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At 9.55 in the morning, the Sensex was trading at 59,324.87 with a gain of 559.29 points or 0.95%. At the same time, Nifty was at the level of 17,684.25 by 152.20 points or 0.87% during this period.
NSE sectors were trading at a brisk pace. The Nifty PSU Banking Index rose 1.4 per cent.
Today, most of the indices in the Asian markets had declined. Japan’s Nikkei fell 0.95 percent. Hong Kong’s Hong Seng fell 1.75 per cent and Taiwan’s index fell 0.6 per cent.
If we look at the previous trading session, Sensex and Nifty fell for the fourth consecutive day on Friday due to inflation concerns and reduced investor confidence due to slowdown in global growth. During this, the Sensex closed at 58,765.58, down 360.78 points or 0.61 per cent. Similarly, Nifty closed at 17,532.05, down 86.10 points or 0.49 per cent.
Market trend this week
Analysts have expressed the opinion that the decision on the interest rate of the Reserve Bank, macroeconomic data and global trend will decide the direction of the stock markets this week. Analysts said that after a strong rally, now the market is showing signs of ‘correction’. Apart from this, investors will also be watching the volatility of the rupee and bond realization in the US. On October 8, the results of the second quarter of TCS are also to come. The volatility of the dollar index and yields on US bonds will play an important role in the direction of global markets. At the same time, crude oil prices will have a huge impact on the Indian markets.