stock market
Even though the stock market made a spectacular comeback and closed the day with a rise of 1100 points from its lower points, this comeback of the market did not help at all for the investors. Due to which stock market investors suffered a loss of Rs 2.25 lakh crore. If we look at the data, Sensex closed with a rise of 77 points and Nifty saw a rise of only 6 points. Whereas at one time there was a fall of more than 1000 points in Sensex.
In fact, the boom in the IT sector helped the stock market to make a comeback. On the other hand, after last week’s fall and Monday’s initial fall, value buying was seen in the Sensex. On the other hand, improvement was also seen in India Vix. Due to which there was a rise in the stock market. Let us also tell you what kind of figures are being seen in the stock market.
Sensex and Nifty made a comeback
On Monday, the stock market closed with a green mark. In fact, both Sensex and Nifty closed with slight gains. But in the morning the market environment was looking quite bad. At one time, Bombay Stock Exchange’s main index Sensex had fallen by 1,057.73 points to 74,180.26 points. After that the Sensex started rising and jumped 1,286.34 points from the day’s lower level and reached the day’s high of 75,466.60 points. However, the Sensex closed at 75,315.04 points with a rise of 77 points compared to Friday’s close.
On the other hand, Nifty, the main index of the National Stock Exchange, was also seen moving with a similar trend. If we look at the data, in the morning Nifty had fallen by 326.4 points to 23,317.10 points. But later there was a rise and Nifty jumped 378.55 points from the day’s lower level to 23,695.65 points. However, Nifty closed at 23,649.95 points with a gain of 6.45 points.
Which stocks rose?
The IT index rose 2.4 percent as a stronger dollar boosted expectations of better profits for companies that earn a large portion of their earnings in dollars. Last week this index had fallen by 5.7 percent. Tata Steel fell 5 percent as the steel company reported lower than expected profit in the fourth quarter.
PowerGrid fell 4.1 percent, while this power transmission company had registered an increase of almost 10 percent in its profit in the March quarter. Motilal Oswal attributed the increase in profit to ‘deferred tax assets’ of Rs 52.8 billion and said that the company’s earnings and operating profit were below their estimates.
Bucking the trend, Gland Pharma rose 13.4 per cent as the drugmaker reported a 97 per cent rise in net profit in the March quarter. The Nifty Midcap 100 index rose 1.7 per cent from the day’s low, while the Bank Nifty rose 1.5 per cent from the intra-day low.
Market’s comeback did not work for investors
On the other hand, even though the stock market may have made a comeback, the stock market did not help the investors at all. If we look at the data, the market cap of BSE was seen at Rs 4,60,59,270.46 crore on the last trading day of last week, which came down to Rs 4,58,33,754.78 crore after the stock market closed on Monday. This means that there was a decline of Rs 2.25 lakh crore in the market cap of BSE. This decline is the loss of stock market investors.
