One day before Dhanteras and about three days before Diwali, stock market investors made huge profits. After five trading days, the stock market was doing well and an atmosphere of recovery was visible in Sensex and Nifty. Amid strong trend at the global level and continuous buying by domestic institutional investors (FIIs), the market gained momentum due to buying in ICICI Bank. The effect of which was clearly visible in the stock market. Let us also tell you what kind of figures have been seen in the stock market.
Stock market bounces after five days
BSE Sensex rose 602.75 points or 0.76 percent to close at 80,005.04. At one time during trading it had climbed up to 1,137.52 points. National Stock Exchange’s Nifty also closed at 24,339.15 points with a gain of 158.35 points or 0.65 percent. According to traders, softening of global crude oil prices also boosted market sentiment. Among the 30 Sensex stocks, ICICI Bank rose three percent.
Net profit on standalone basis of private sector bank increased by 14.5 percent to Rs 11,746 crore in the quarter ending September 2024. Its stock rose on the news of the stay. Apart from this, JSW Steel, Mahindra & Mahindra, Adani Ports, Tata Steel, Sun Pharma, Hindustan Unilever, Tata Motors and State Bank of India were major gainers. On the other hand, the loss making stocks include Axis Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Maruti.
What are the experts saying?
Vinod Nair, head of research at Geojit Financial Services, said that the market gained momentum after continuous selling last week. Investor sentiment was boosted by softening of crude oil prices due to positive results from banks and some reduction in concerns about retaliatory action in West Asia. Got stronger. He said that for the all-round boom to continue, it is necessary that the results of more companies should be better. At present, the situation is not clear due to lack of demand and margin pressure. We estimate that companies that do not have too much debt and have growth potential will perform well when the market stabilizes. BSE Smallcap index related to shares of small companies rose 1.11 percent while Midcap index related to medium companies gained 0.69 percent.
Boom in foreign markets too
In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were in profit. There was a positive trend in the major markets of Europe in afternoon trading. There was a mixed trend in the American markets on Friday. According to stock market data, foreign institutional investors invested Rs 3,036.75 crore on Friday. Sell value of shares. Whereas domestic institutional investors invested Rs 4,159.29 crore. Bought shares worth. Global oil benchmark Brent crude fell 5.84 percent to $71.54 per barrel. BSE Sensex fell 662.87 points on Friday while Nifty fell 218.60 points.
Investors made huge profits
Investors’ wealth increased by Rs 4.21 lakh crore on Monday due to the rise in the stock market after five trading sessions of decline. It increased. Market capitalization of companies listed on BSE increased by Rs 4,21,138.2 crore to Rs 4,41,20,059.86 crore. Done. Prashant Tapse, senior vice president (research), Mehta Equities Limited, said markets had fallen sharply last week amid concerns of overvaluation. He said that the overall market sentiment remains bearish and hence investors need to be cautious.
