The stock market closed higher on Tuesday, the second trading day of the week, due to positive signals from domestic and global markets. The Bombay Stock Exchange’s flagship index Sensex closed 447.05 points, or 0.99 percent, higher at 50266.89. At the same time, the Nifty on the National Stock Exchange rose 157.55 points, or 1.07 percent, to close at 14919.10.
Analysts said investor sentiment was strong as GDP figures reached a positive level in the third quarter. At the same time, investors’ purchases have also increased as the bond market has returned to peace following last week’s rise in global markets.
The same was true of older stocks
Shares of M&M, Tata Motors, Wipro, Adani Ports and Hero MotoCorp closed green today. Shares of ONGC, HDFC, Doc Reddy, Power Grid and Coal India closed higher.
Sectoral indicator tracking
If we look at the sectoral index, all sectors except PSU Bank are closed on the green mark today. These include Finance Services, FMCG, IT, Banks, Pharma, Private Bank, Metal, Auto, Media and Realty.
Nine of the top ten companies have increased market capitalization
Last week, the market capitalization of nine of the top ten Sensex companies fell by Rs 2,19,920.71 crore. Last week, the 30-share BSE benchmark Sensex fell 1,786 points, or 3.46 percent. Of the top ten Sensex companies, only Reliance Industries has seen market growth. Reliance Industries topped the Sensex’s top 10 list. It is followed by TCS, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICCI Bank, Kotak Mahindra Bank, SBI and Bajaj Finance.
The market will be affected by these factors this week
In the long run, bonds, crude oil prices and the trend of macroeconomic data will determine the direction of the stock market this week. Analysts have expressed the view that investors will now remain somewhat ‘calm’ after several days of decline in the stock market. Apart from this, investors will also see the investment trends of foreign portfolio investors (FPIs), vehicle sales data for February, services and production data. In addition, the direction of coronaviruses in different states can also affect the market direction.
The market was open as it grew
The Sensex was up 296.31 points (0.59 percent) at 50,146.15 in early trade. At the same time, the Nifty opened 87.80 points or 0.59 percent higher at 14,849.30.