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Market Opened On The edge, Sensex Rises 348 Points

Market opened on edge, Sensex rises 348 points, Nifty close to 11,900. Today, on the first trading day of the week i.e. Monday, the stock market opened on the green mark.

The Bombay Stock Exchange’s flagship index Sensex opened at 40331.53, up 348.55 points. At the same time, the National Stock Exchange’s Nifty opened at 11,879.20 with an increase of 116.75 points.

The stock market closed on the green mark on the previous trading day. The Sensex was up 254.57 points at the level of 39982.98 and the Nifty was up 82.10 points at 11762.45.

Among today’s major stocks, SBI Life, Doc Reddy, Coal India, Adani Ports and ONGC shares opened on the green mark. At the same time, Axis Bank, Grasim, TCS, Cipla and ICICI Bank started at a decline.

Condition of the worldwide market

On Friday, the worldwide market saw an increase. The US market Dow Jones closed at 28,606.30, up 112.11 points. Whereas, Nasdaq was down by 46.41 points at 11,852.20 points. Talking of S&P, it closed at 3,483.81 level with a slight gain of 500 index.

How will the market move ahead

Kishore Ostwal, CMD of CNI Research, says that in the coming times, the Nifty will cross the 12,450 mark and touch new highs. Dow can also touch new highs. Bank Nifty will also hit the first level of 26,000 and then touch 30,000.

He said that if we talk about the trendline, it shows the bull. Now is the time when midcap stocks may see a boom as most stocks have reached their support levels. The next two weeks could prove to be very encouraging for Mid Cap.

In such a situation, if you have stocks that give manifold returns, then hold them for a year. They will give you very good returns.

Improving the economy will encourage investment, help to those who create jobs.

Covid-19 has impressed everyone. The middle class is suffering the most. The poor is becoming poor. Most of the MSMEs are struggling, many have also left the field. There is more than 20 percent of the top 1,000 corporates, who have faced an existential crisis.

Economic activity has also slowed down. Uncertainty of job and decreasing demand in areas directly related to consumers have also affected other sectors. The lockdown has delayed 70 percent discretionary consumption.

20 percent consumption has been completely affected. GDP (GDP) has suffered 10 per cent and the income of the poor has been affected by 35 per cent.

To revive the economy going through a critical phase, the Center needs to implement a decisive and strong monetary and fiscal policy. Investment has to be boosted and the treasury has to be opened.

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