stock market
National Stock Exchange index Nifty 50 crossed the level of 24,000. At the same time, the Sensex of Bombay Stock Exchange (BSE) is also trading in a strong position with a jump of about 250 points. This increase is being seen in the market for the fourth consecutive day, due to which the confidence of common investors has increased significantly. There are big reasons behind this glow like the peace agreement between America and Iran and the huge fall in the prices of crude oil.
Situation of Sensex-Nifty in early trade
All-round buying was seen in the market in the morning trade. At around 09:48, the Sensex was trading at the level of 77,045.80 with a gain of 237.32 points or 0.31 percent. In the initial minutes it jumped 284.69 points to reach 77,093.17. On the other hand, Nifty 50 also stood at 24,057.20 with a rise of 68.05 points or 0.28 percent. In the very first hour of trading, Nifty touched a high of 24,067.55. Along with big stocks, there is a rise in medium and small stocks too. Nifty Midcap 100 and Smallcap 100 indices are moving up by half a percent each. The market had already risen by more than 3 percent in the last three days.
Two big booster doses received from global market
The biggest reason for this sudden rise in the market is the improvement in international politics. A historic peace agreement is going to be signed between America and Iran in Geneva on Friday, June 19. This news has given great relief to investors around the world. Apart from this, the movement of ships through the strategically important trade route ‘Strait of Hormuz’ has become normal. Due to the resolution of supply chain problems, there has been a huge decline in the prices of crude oil. In the international market, Brent crude has fallen below $ 79 per barrel, which some time ago had reached close to $ 120 due to tension. Due to cheap crude oil, the costs of Indian companies reduce.
IT sector took command of the market
The most important thing in today’s business was that the metal and realty sectors tried their best to pull the market down. There was a decline of more than half a percent in the indices of both these sectors. A slight slowdown was also seen in the shares of government and private banks of the banking sector. Despite this, the IT sector single-handedly took over the market and pulled it up. Nifty IT index is trading with a gain of more than 1 percent, due to which the sentiment of the entire market remains strong.
‘India VIX’ index is also in the safe zone
The index ‘India VIX’, which measures market fluctuations and investors’ nervousness, is currently at 13.39 with a slight increase of 0.16 percent. According to experts, this index being between 13 to 17 is considered very safe. This means that there is no possibility of any major shock or huge fluctuations in the market in the coming days. If we talk about Asian markets, there is a mixed trend there. Japan’s Nikkei and Singapore’s Straits Times are up by more than 1 percent each, while South Korea’s Kospi is also on the rise. Although a slight decline is being seen in the markets of China and Taiwan, it has not had any bad impact on the Indian market.
Also read- Opening of Hormuz gives huge earning opportunity to these stocks, Nomura gives Buy rating
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
