After opening on the green mark amid mixed signals from the international market, the stock market closed on the red mark after the day’s volatility on Monday, the first trading day of the week. The Bombay Stock Exchange’s flagship index Sensex closed at a level of 48347.59, a steep decline of 530.95 points, or 1.09 percent. At the same time, the National Stock Exchange’s Nifty lost 133 points (0.93 percent) to close at 14238.90.
Fluctuations may continue this week
It is known that on Tuesday, the stock markets will be closed on the occasion of Republic Day. The 30-share BSE Sensex was down 156.13 points or 0.31 percent in the previous week. The stock markets may fluctuate this week between the settlement of monthly derivative contracts before the general budget and the quarterly results of companies. Experts have expressed this opinion. Siddharth Khemka, head of retail research, Motilal Oswal Financial Services Ltd, said, “There may be a market turmoil in the coming days before the Union Budget and monthly deals expire.” Quarterly results of companies will also increase market volatility. The Federal Reserve’s monetary policy is also going to be announced this week.
The BSE Sensex crossed the 50,000 marks for the first time last week. Analysts said that now all eyes are on the budget of 2021-22. The budget will provide direction for the further journey of Sensex. The market witnessed a lot of ups and downs in the last year between the coronavirus epidemic. The 30-share BSE Sensex hit a one-year low of 25,638.9 on March 24. However, the Sensex went to record levels during the year ahead.
TCS left Reliance behind during business
Today, Tata Consultancy Services (TCS) became the most valuable company in the country in terms of market capitalization, outpacing Reliance Industries Limited during the business. TCS had a market capitalization of Rs 12,45,341.44 crore during afternoon trade, while Reliance Industries Ltd (RIL) saw its market capitalization fall to Rs 12,42,593.78 crore. However, in the end, Reliance again snatched the crown of the most valuable company. When the business closed, TCS had a market capitalization of Rs 12.20 lakh crore, while Reliance had Rs 12.76 lakh crore. In fact, RIL’s quarterly results could not please investors, resulting in a 5.58 percent fall in its stock to close at 1,935.15.
Such was the situation of veteran shares
Talking about the big stocks, shares of UPL, Cipla, Axis Bank, Grasim, and Hero MotoCorp closed on the green mark today. The shares of Reliance, Itcher Motors, Tata Motors, HCL Tech, and IndusInd Bank closed at the red mark.
Sectoral index tracking
If we look at the sectoral index, today all sectors except Pharma, Metal, Finance Services and Bank closed on the red mark. These include Auto, IT, FMCG, PSU Bank, Media, Private Bank, and Realty.
Continued pickup in the market in 2020
The year 2020 was a big development for the stock markets. In March 2020, the coronavirus epidemic hit India. The coronavirus 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.
The market was open on the edge
Today the domestic stock market started on the green mark. The Sensex gained 262.71 points (0.54 percent) to open at 49,141.25. At the same time, the Nifty opened with a gain of 98.10 points, or 0.68 percent, at 14,470.
The market closed on the red mark on Friday
The stock market closed on the red mark after a day’s ups and downs on Friday. The Sensex had closed at 48878.54, down 746.22 points, or 1.50 percent. The Nifty was down 218.45 points (1.50 percent) to close at 14371.90.