After the rise of Wednesday, the mood of the stock market did not appear good on Friday. The mood of Sensex and Nifty continued on off from morning till afternoon. But before the stock market was closed, the Sensex and Nifty again caught pace. Till the market closure, the Sensex appeared with a rise of more than 550 points from the lower level of the day. The Nifty also closed with 24,894.25 points. If we look at the data, the benchmark equity indices on Friday compensated for an early decline due to the increase in metal stocks, softening of crude oil prices and positive global signals.
The shares of Tata Steel, Hindalco Industries, Kotak Mahindra Bank, Axis Bank and JSW Steel increased by up to 4 percent. Let us also tell you which 5 reasons why investors got the benefit of Rs 2.44 lakh crore. The special thing is that the stock market saw a boom for the second consecutive day. The Sensex has seen an increase of more than 900 marks in two consecutive days.
Reason for boom in stock market
Metal stocks shopping: Tata Steel recorded an increase of about 3 percent and was a top performing share in the Nifty 50 index. Investors’ interest in the region increased after the European Union reported halishing the steel import quota and levying a 50 per cent fee on more than that. Brokerage firms said that its impact would be limited on Tata Steel and SAIL, which has less than 8 percent stake in exports, while Tata Steel’s Netherlands operation, which contributes one-fourth to its revenue, may benefit.
Promotion of capex: Finance Minister Nirmala Sitharaman reiterated the government’s commitment to increase the capex to speed up development. The economy increased by 7.8 percent in the April-June quarter, the fastest speed of the last five quarters. Expect expectations supported the shares of Infra and Capital Goods, which supported the market.
Crude oil declines: Brent crude prices fell to a low of 16 weeks for the third consecutive day due to the concerns of a potential US government’s closure and hopes of increasing supply of OPEC+ countries. Lower crude oil prices have reduced India’s import bills and concerns about inflation, which is positive for domestic stock markets.
Global Indicator: The Asian stock markets led to a mixed trend, a rapid lead in Nikkei in Japan and Cospie in South Korea, while Hong Kong’s Hang Seng index remained below. On Wall Street, the benchmark index on Thursday closed at record high, which supported the expectations of further deduction in tech shares and US interest rates in the US. Strong global market trends improved the ability to risk risk for Indian stock markets.
Value Bing: Following the first eight days of decline, investors made value bybing, helping the indices overcome the lower level of intraday. The markets closed with an edge on Wednesday as well.
Stock market investors are big advantage
Due to this boom, the stock market investors have got a big benefit. The advantage of investors is related to BSE market cap. According to the data, the market cap of BSE on Wednesday was Rs 4,55,34,260.35 crore, which increased to Rs 4,57,77,820.86 crore on Friday. This means that the market cap of BSE made a profit of Rs 2.44 lakh crore. This is also the advantage of investors.