The Market Starts With Gains, Sensex Jumps More Than 150 Points
The market starts with gains, Sensex jumps more than 150 points, Nifty crosses 16250.
Today, the first trading day of the week i.e. on Monday, the stock market opened with an increase.
The Sensex was trading at the level of 54,434.81 with a gain of 157.09 points and the Nifty was up by 45.00 points at the level of 16,283.20 at the beginning of trading.
On Friday, the last day of the week, the stock market closed with a fall. The Bombay Stock Exchange’s flagship index Sensex closed at 54,277.72, down 215.12 points.
On the other hand, the Nifty of the National Stock Exchange lost 56.40 points and closed at 16,238.20.
The Market Starts With Gains: It is noteworthy that the movement of the stock market this week will depend on macroeconomic data, quarterly results of companies, and global trends.
Let us inform you that this week the industrial production figures for June and the inflation report for July are to be released.
In the monetary policy review on Friday, the RBI had raised the retail inflation forecast from 5.1 percent to 5.7 percent.
Markets will keep an eye on quarterly results, economic data, many companies including MRF, Jindal Steel will release results.
The movement of domestic stock markets this week will depend on the quarterly results of the companies, macroeconomic data, and global trends.
Industrial production data for June and the inflation reports for July are to be released this week.
Recently, in its monetary policy review, the Reserve Bank had raised the estimate of retail inflation from 5.1 percent to 5.7 percent.
Nirali Shah, Head Equity Research, Samco Securities, said, “This week all eyes will be on some key economic data and company results.
However, the bullish trend is expected to continue in the market.
The quarterly results of MRF, Amtek Auto, Jindal Steel and Power Ltd., Lupine, Eicher Motors, Tata Steel, Grasim Industries, NBCC, and ONGC are due this week.
Vinod Nair, Head of Research, Geojit Financial Services, said, “Inflation and industrial production figures are the two major factors that investors will be watching this week.”
The stance of foreign institutional investors, crude oil prices, and the rupee’s value against the dollar will also affect investor sentiment.
Last week, the BSE Sensex closed 1,690.88 points higher at 54,277.72. Earlier on August 5, it had closed at its highest level. Experts say that the markets running at the peak may see volatility this week.
FPI infuses Rs 1,210 crore into Indian markets: Foreign investors have increased confidence in the Indian markets.
Foreign portfolio investors (FPIs) infused Rs 975 crore in the equity market and Rs 235 crore in the debt segment between August 2 and 6, the first five trading sessions of August.
Thus, in August so far, FPIs have been net investors of Rs 1,210 crore. In July, FPIs had withdrawn Rs 7,273 crore.
