The Market Went Up To An Intra-day High Of 59810 Points
The market went up to an intra-day high of 59810 points. There will be a great jump in the stock market on the first day of Navratri, these stocks including Auto will continue to rise.
After a fall of more than 500 points on Wednesday, Sensex made a strong start again on the first day of Navratri on Thursday.
The market went up to an intra-day high of 59810 points after opening at a strong level of 59,632.81.
Sensex was trading up 579 points. Except for NTPC, the rest were on the green mark. On the other hand, Nifty 50 was trading in the same range after opening at 17,810.55 points.
According to MC Gupta of SMC Global, auto stocks will remain bullish. Today investors should focus on such stocks, whose quarterly results are coming.
For example, the result of TCS is about to come. Along with this, the sales of auto companies have been good in September.
The lack of a chip has not had much effect. However, there is still a big correction due in the market. Hence a long-term approach is necessary.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services said that the Indian markets have opened with a positive trend.
Yesterday’s weakness is gone today. Apart from this, the bi-monthly monetary review meeting of the Reserve Bank of India (RBI) has started.
It is believed that the central bank will not change the interest rates.
Earlier on Wednesday, Sensex lost 555 points amid heavy selling in global markets. Due to this, investors’ capital of Rs 2,57,785.17 crore was sunk.
The BSE 30-share Sensex fell 555.15 points, or 0.93 percent, to 59,189.73 points.
Due to this, the Sensex had risen in the last two trading sessions. During the day’s trading, the Sensex had lost 665.02 points to 59,079.86 points at one time.
This reduced the market capitalization of BSE-listed companies by Rs 2,57,785.17 crore to Rs 2,62,20,547.05 crore.
Among the Sensex companies, IndusInd Bank’s stock fell the most by three percent. Shares of Tata Steel, Bajaj Auto, HCL Tech, Sun Pharma, and Tech Mahindra also declined.
On the other hand, HDFC Bank, HDFC, and Bajaj Finance ended with gains.
In other Asian markets, Hong Kong’s Hang Seng, South Korea’s Kospi, and Japan’s Nikkei declined. China’s Shanghai Composite had a holiday.
European markets were in losses in afternoon trade. Meanwhile, international benchmark Brent crude oil rose 1.14 percent to USD 82.19 per barrel.
Vinod Nair, Head of Research, Geojit Financial Services, said a weak global trend led to profit-booking in metal and IT stocks.
Due to this, the market closed in loss after losing the initial profit. He said the rise in crude oil prices is affecting the Indian market, while inflation has affected bond yields in the US.
