Stock Market At A Record High, Sensex Crosses 55,000 Mark

Stock market at a record high, Sensex crosses 55,000 mark, Nifty reaches above 16400: Stock market 13 August.

Today the last trading day of the week i.e. on Friday, the stock market started with an increase. At 09:16 am, the Bombay Stock Exchange’s major index Sensex opened with a gain of 151.79 points at 54,995.77.

Whereas, the Nifty of the National Stock Exchange opened at 16,400.50 with a gain of 36.10 points.

At the time of writing the news, Sensex was trading up 231.92 points at 55,075.90 and Nifty was up 72.50 points at 16,436.90.

The domestic stock markets registered a sharp jump on Thursday due to the special interest of investors in big companies of the IT and banking sectors.

Stock market at a record high: The strengthening of the rupee against the dollar also boosted investor morale.

At the end of the day’s trading, the BSE 30-share major index Sensex closed at a new record of 54,843.98, up 318.05 points, or 0.58 percent.

In the intra-day, the Sensex had gone up to a top high of 54,874.10. The 50-share Nifty of the National Stock Exchange (NSE) also improved 82.15 points, or 0.26 percent, to a new record of 16,325.15.

On Thursday, the highest rise of 6.22 percent in the Sensex pack was recorded in the shares of PowerGrid.

Shares of Tech Mahindra, HCL Tech, Titan, L&T, NTPC, and ICICI Bank also saw strength.

However, investors booked profits in shares of Dr. Reddy’s, IndusInd Bank, Mahindra & Mahindra, Reliance Industries, and SBI.

Utilities, Power, Industrials, Capital Goods, and IT on the BSE registered a jump of 3.11 percent. BSE Midcap and Smallcap Dundex jumped up to 1.97 percent.

Can’t become a global manufacturing hub by copying China: Amitabh Kant

NITI Aayog CEO Amitabh Kant has said that the country can never become the next manufacturing hub of the world by copying China.

He clearly said that India should not look towards those areas in which China is already dominant.

In the CII program, Kant said that in order to lead the world, the country has to seize the emerging opportunities of development.

The industry has to set ambitious goals for itself. It has to be competitive in the fields of green hydrogen, high-quality batteries, and advanced solar panels.

There is so much potential in the field of solar energy that in five years its price can come up to Re 1 per unit.

On the basis of a NITI Aayog assessment, Kant said that the US and Europe would import about 500 gigawatts of green hydrogen and green ammonia.

In such a situation, the country should aim to export at least 200 GW by the year 2030.