Share Market: Good start of the week in the stock markets, Sensex-Nifty boomed; Titan, Axis Bullish
Stock market on a huge jump today, Sensex-Nifty rally.
Mumbai:
Stock Market Updates : Despite a weak trend in the global markets, the domestic stock markets have started the week well. The benchmark index Sensex jumped more than 300 as soon as the market opened today. At the same time, Nifty also opened above 15,850 with a good jump. Midcap and smallcap indices are also showing bullish trading. In early trade, the Sensex rose 311.28 points to 52,898.12 and the Nifty jumped 93.35 points to reach 15,856.40.
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If we look at 10.24 in the morning, then the Sensex was trading at the level of 52,870.39 with a jump of 283.55 points or 0.54%. There itself. During this Nifty was at the level of 15,857.55. The index had gained 94.50 points or 0.60%.
All sectoral indices opened in green on BSE. Auto and PSU banking index had registered a gain of one per cent. The biggest gain of two percent in the Sensex was in Titan. Apart from this, Axis Bank, Bharti Airtel, HDFC, Maruti, Bajaj Finserv, Infosys and Reliance Industries were also among the top gainers. On the other hand Tech Mahindra, Sun Pharma, NTPC, PowerGrid and Dr Reddy’s were trading in red mark.
In the previous session, the Sensex ended 66.23 points or 0.13 per cent lower at 52,586.84, while the broader NSE Nifty ended 15.40 points or 0.10 per cent lower at 15,763.05. Foreign institutional investors (FIIs) sold shares worth Rs 3,848.31 crore on a gross basis on Friday.
Which factors will affect the stock market
Market analysts said that the direction of the stock markets will be decided this week by macroeconomic data, quarterly results of companies and RBI’s decision on interest rates. Apart from this, the global trend and vaccination will also give direction to the market, he said. Vinod Nair, Head of Research, Geojit Financial Services, said, “The major developments on the domestic front in the coming week will be the monetary review of the Reserve Bank. The market is waiting for the manufacturing and services PMI data for what is the status of the economy’s revival.
During the week, the quarterly results of HDFC, PNB, Adani Ports and Special Economic Zone, Bank of India, Bharti Airtel, State Bank of India and Mahindra & Mahindra are to come.