Sensex and Nifty, the two prominent financial indices of this nation, ended Monday’s trade quite decently, with a burgeoning positive atmosphere around.
Sensex
The BSE Sensex, which jumped 500 points in the day’s high, settled 320 points at 60,942. The NSE Nifty, on the other hand, ended at 18,118, with an increase of 91 points. On the 30-share platform, i.e. Sensex, HUL, SunPharma, TechM, TCS, Infosys, and SBI were the winners while Ultra Cemco, NTPC, Tata Steel, L&T, Reliance, Titan, on the other hand, came out as the losers. In a broader sense, the BSE Midcap index rose by a paltry 0.4 percent and the Smallcap index managed to trail the market, closing at 0.3 percent.
The Midcap segment rose by 7 percent in the following- Delhivery, Torrent Power, Persistent Systems, Tata Elxsi, Bajaj Holdings, and AU Bank, with Yes Bank tanking at 8 percent, following disappointing quarter 3 results. Coming to sectors now, IT racked a 2 percent gain, followed on by a rise in the bank, auto, FMCG, and pharma.
Metals and realty were the only ones to close lower. On Friday, the Sensex closed 237 points at 60,622, after reaching an intra-day high of 61,001. The NSE Nifty50, settled at 18,028, down 80 points, with the NSE Nifty50, touching the day’s high of 18,145 before settling. The rupee fell 20 paise to 81,38 against the dollar Meanwhile, the rupee fell 21 paise to close at 81.38, with the crude price rising, however, the strong favor and a weak dollar kept the local currency strong.
At the interbank foreign exchange market, the rupee had a stronger opening at 80.92 to the dollar against the previous of 81.17. The local units moved in the following range- 81.47-80.93. Friday marked the appreciation of the rupee by 19 paise. The US dollar index which gauges strength declined by 0.35 percent to 101.66, with concerns over US economic growth. The Brent crude rose 0.26 percent to $87.86. The FII’s( foreign institutional investors were big net sellers on Friday, selling shares worth 2002,25 crores.
The next week shall also be a busy one, the stock market never sleeps, with the Sensex still being positive at 60,492, as well as the NIFTY at 17,935, with a good week for the metals like gold and silver continuing to rise, along with the crude oil levels going beyond the level of support, ie. 6400. The rupee still continues to burgeon and maintain a bullish atmosphere as it continues to hold it’s own against the dollar at 80.90.
The market has its own share of volatility for the bank NIFTY is in a tight range of 41500-43600, although it doesn’t plummet too much, which does not exactly spell doom for the investors, but does not exactly give a strong reason for new investors.
To sum up, the market environment seems decent enough for most, with just hints of uncertainty, a normal day at the stock market.
