Today there was a break on the decline in the stock market ( Share Market Updates ) for four days. After the heavy fall on Monday, the market has returned to its glory, and there has been a lot of buying in the last hour. Sensex today _ _) with a gain of 581 points at the level of 53424, and the Nifty closed at 16013 with an increase of 150 points.
There was a slight rise in the market during the entire trading day. Investors made massive purchases in the last hour. Today, 24 stocks in the top-30 of the Sensex closed with a rise, and six shares fell. Sun Pharma, Tata Consultancy Services and NTPC were the top gainers. Tata Steel, PowerGrid and Titan were the biggest losers in the shares. The rupee also gained marginally today amid the rise in the market. It closed at 76.91 with a jump of 5 paise against the dollar.
Vinod Nayyar, Head of Research, Geojit Financial Services, said that the market has returned with happiness due to strength in pharma and IT. The rupee has reached a record low level. Due to this, both the export-based sectors have gained momentum. Apart from this, BJP is seen forming the government again in Uttar Pradesh in the exit polls regarding the assembly elections. This has also strengthened the market sentiment.
The market has been corrected 16 per cent.
The stock market has corrected about 16 per cent so far from its all-time high. Due to the invasion of Russia, many challenges have arisen in front of the global economy. Crude oil is at a 13-year high, while the commodity is also breaking records. Due to this, the inflation pressure has also increased. Due to this, the companies’ revenue is seen to be affected.
Pressure on other Asian markets
Major Western markets were also in profit, while Asian markets came down under global inflationary pressure, he said. Hong Kong, Shanghai and Tokyo closed with losses in other Asian markets. On the other hand, the stock markets of America saw a sharp decline on Monday.
Crude oil continues to rise.
Meanwhile, international oil standard Brent crude rose 2.87 per cent to $126.6 per barrel. The process of withdrawal of foreign institutional investors from the Indian markets continues. According to the information received from the stock market, foreign investors also sold shares worth Rs 7,482.08 crore on Monday.