Today multi asset bull run was seen in the country’s market.Image Credit source: ChatGPT
Before the trading session, there is a huge rise in currency, commodity and stock markets. Where the main index of the stock market, Sensex, is trading beyond 84 thousand points. On the other hand, there is a huge rise in the prices of gold and silver. The remaining work was completed by rupees. In which good growth has been seen and the dollar has recovered from 90.50. The main reason for the rise in the stock market and the rupee is being considered to be the trade deal with America.
On the other hand, the main reasons for the rise in gold and silver prices are the fall in the dollar index and tension with the Middle East. Due to the boom in the market, it seems that a lot of money is being rained on the investors. According to experts, there may be fluctuations in the prices of gold and silver, but the stock market and rupee may remain bullish. Let us also tell you what kind of figures are being seen in the overall market.
Bullish atmosphere in the stock market
Due to India US trade deal, there is a bullish atmosphere in the stock market. On the other hand, due to good quarterly results in the banking sector, SBI shares are seeing a rise of 7 percent. During the trading session, the Sensex was seen trading at the day’s high of 84,314.68 points with a rise of 734 points. However, around 1:50 pm, the Sensex was seen trading at 84,038.21 points with a rise of 450.96 points. Among the 30 companies included in the Sensex, shares of State Bank of India, Titan, Eternal, Kotak Mahindra Bank, Bharat Electronics Limited, Tata Steel, Sun Pharmaceuticals, Larsen & Toubro, Adani Ports, Indigo, Reliance Industries and Bharti Airtel rose.
On the other hand, Nifty, the main index of the National Stock Exchange, was also seen trading at a good pace. If we look at the data, during the trading session Nifty was trading with a rise of more than 225 points and reached the day’s high of 25,922.25 points. However, at 1:55 pm, Nifty was trading at 25,848.80 points with a rise of 155 points. According to stock market data, foreign institutional investors (FIIs) were buying on Friday and bought shares worth Rs 1,950.77 crore.
rise in gold prices
On the other hand, there is good news for investors investing in gold. A rise in gold prices is being seen on the country’s futures market Multi Commodity Exchange. If we look at the data, gold rose by Rs 3,049 during the trading session and appeared at the day’s high at Rs 1,58,500 per ten grams. Whereas at 1:58 pm, gold was trading at Rs 1,57,500 per kg with a rise of Rs 2,049. However, gold had closed at Rs 1,55,451 on the last trading day of last week. According to experts, due to the recent big fall and decline in the dollar index, investors are doing value buying in gold.
Silver price also increased
There is even better news for investors investing in silver along with gold. The reason for this is that silver has seen a greater increase than gold. According to the data of Multi Commodity Exchange, the price of silver saw an increase of Rs 14,993 per kg during the trading session and the price was seen at the day’s high of Rs 2,64,885. If we look at the data, at 2 pm silver was trading at Rs 2,61,500 per kg with a rise of Rs 11,608 per kg. However, on the last trading day of last week, silver fell below Rs 2.50 lakh and closed at Rs 2,49,892.
Rupee showed strength
The rupee rose 21 paise to 90.44 against the US dollar in early trade on Monday. After the preparation of the outline of the interim trade agreement between India and the US, the domestic currency got a boost from positive market sentiments. Forex traders said that although the rupee started weak, it soon recovered its lost gains and started trading with a positive trend.
India and the US on Saturday announced the preparation of a framework for an interim trade agreement under which both sides will reduce import duties on several items to boost bilateral trade. Apart from this, the fall in the dollar index and positive trend in the domestic stock market further strengthened the confidence of investors.
In the interbank foreign exchange market, the rupee opened at 90.66 against the US dollar. Then after gaining some gains it reached 90.44 which shows an increase of 21 paise from the previous closing price. The rupee fell 31 paise on Friday and closed at 90.65 against the US dollar. Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, stood at 97.58, down 0.05 per cent.