Sensex Crosses 53000 Levels For The First Time
Sensex crosses 53000 levels for the first time, these stocks including Maruti have a great rise. The despair in the stock markets ended on Tuesday.
BSE Main Index Sensex opened with great momentum. Sensex opened at 52885 points with a gain of about 350 points and also made a high of 52957 points.
After that, the Sensex crossed the 53,000 mark for the first time. Most of the stocks, including Maruti, saw a rise.
On Monday, Reliance Ind took over the market. On the other hand, NSE Nifty is also trading 100 points up at 15850 points.
A day earlier, the BSE Sensex closed with a good gain of 230 points, exiting the big fall in early trade.
Shares of HDFC Bank, HDFC Ltd., State Bank of India, and Reliance Industries gained in the market amid a mixed trend globally.
The 30-share Sensex had lost over 600 points in opening trade. After recovering from the fall, it recovered and finally closed at 52,574.46 points, up 230.01 points, or 0.44 percent.
The Nifty of the National Stock Exchange also closed at 15,746.50, up 63.15 points, or 0.40 percent. NTPC’s stock was the biggest gainer with a gain of 3.87 percent in the Sensex shares.
Apart from this, Titan, SBI, HUL, UltraTech Cement, Tata Steel, and IndusInd Bank also saw good gains.
Sensex crosses 53000 levels for the first time: HDFC shares shine.
The rally in the market was mainly due to HDFC Bank, HDFC Ltd., and Reliance Industries contributed. On the other hand, Maruti declined the most by 0.82 percent.
The company has said that it will increase the prices of all its vehicles in the second quarter of the current financial year due to the rise in the prices of essential goods.
TCS fall.
Apart from this, other stocks including TCS, Tech Mahindra, and L&T, and Infosys fell up to 0.74 percent.
Vinod Nair, Head of Research, Geojit Financial Services, said that the domestic stock market opened with a fall due to the aggressive stance of the US Federal Reserve on monetary policy.
However, the market ended with a bullish exit from the lowest level.
Because the market is expecting a rapid economic revival from the Prime Minister’s announcement of providing free vaccines to all citizens.
Public sector banks performed better. The reason for this is the report of the government finalizing the names of the Central Bank of India and Indian Overseas Bank regarding privatization.
Preference for buying.
According to Vinod Modi, Head of Strategy, Reliance Securities, the recovery in shares of public sector banks was the main reason for the rally in the market.
Ahead of the Annual General Meeting of Reliance Industries, the company’s stock strengthened and helped the market recover.
Barring Auto and IT, most of the major segment-wise indices ended in gains, outperforming losses.
He said that after the fall, investors once again preferred to buy in the shares of small and medium companies.
