Ongoing growth in the market has stalled since the budget was presented on February 1, 2021. Today, the second trading day of the week, Tuesday, the domestic stock market was closed above the red mark. The Bombay Stock Exchange’s flagship index Sensex fell 19.69 points (0.04 percent) to close at 51329.08. On the other hand, the Nifty on the National Stock Exchange closed at 15109.30 with a slight fall of 10.50 points or 0.04 percent.
Random events from February 1
In the last six days, the assets of investors have increased by Tk 16.70 lakh crore. The market has been bullish since the budget day presented on February 1. The market capitalization of BSE-listed companies has increased by Tk 1,16,70,144.05 crore to Rs 2,02,2,7997.08 crore from February 1. During this period, the BSE Sensex has gained 5,063 points or 10.93 percent. The market capitalization of BSE-listed companies crossed Rs 1 lakh crore on November 26, 2014. The market capitalization (market cap) of the top ten Sensex companies has increased by Rs 5,13,532.5 crore amid broad positive market sentiment. During this period, the market capitalization of banks is seen as the highest.
The market will be affected by these factors this week
Analysts say there has been no major economic progress this week, so companies ’quarterly results and global indicators will play a key role in driving the market. He said the RBI has passed major development projects such as budget and financial revision. In such a situation, the perception of the investors will again determine the key issues. The BSE 30-share Sensex rose nearly 9.6 percent last week. The market outlook has been positive in the long run due to the good budgets and quarterly results of the companies. However, analysts believe that the market may see some improvement this week after a strong rally last week.
“We believe the market will continue to move forward,” said Siddharth Khameka, head of retail research at Motilal Oswal Financial Services. The direction of the market will be determined by fundamental factors such as the financial results of the companies. The strong future projections of companies with budgets ensure a positive market structure in the long run.
The same was true of older stocks
Speaking of large stocks, today SBI Life, Asian Paints, HDFC Life, ONGC and IOC shares are closed at the green mark. Tata Motors, M&M, JSW Steel, ITC, and Bajaj Auto closed at the red mark.
Sectoral indicator tracking
If we review the sectoral index, all sectors except banks, financial services and private banks are closed in red. These include IT, Auto, Media, FMCG, Realty, PSU Bank, Pharma and Metal.
The market was open on the edge
Today, the Sensex opened at 122.08 points (0.24 percent) at the level of 51470.85. At the same time, the Nifty opened at 15164.15 with a gain of 48.35 points or 0.32 percent.
The Sensex closed at a record level on Monday
The stock market also closed at the green mark on Monday. The Sensex rose 617.14 points, or 1.22 percent, to 51348.77. The Nifty closed at 15115.80 with a gain of 191.55 points (1.28 percent). This is the highest level of the market closing index.