Many records made in a week:For the first time, Sensex touched 51 thousand and Nifty touched 15 thousand, SBI shares rose 40% after 30 years

The trading week for the stock market was the leading gainer. During this period, the Sensex has gained 4445.86 and the Nifty has gained 1289.65 points. Such a huge increase was seen in a week in April last year. On Friday, the Sensex gained 117.34 points to 50,731.63 and the Nifty closed 28.60 points higher at 14,924.25. In early trade today, the Sensex crossed the record level of 51 thousand and Nifty 15 thousand for the first time. But with the Reserve Bank’s decision to keep repo rate and reverse rate fixed, the market slipped from the upper level.

SBI gains 40% after 30 years

SBI’s stock was at the forefront of the spectacular gains. The stock has gained nearly 40% this week. Such a huge increase was last seen in a week in March 1992. The bank had released its result yesterday. In this, he had gained more than 5 thousand crores rupees. However, this profit was lower than the December quarter of 2019. Despite this, its stock had risen by around 15% in the morning. The Sensex opened 417.1 points higher at a record level of 51,031.39 in the morning. Similarly, the Nifty was also open at 14,952.60, up 56.95 points.

From the graphic below, understand the most rising and falling stocks in the major index of the market…

Banking and realty stocks rise by keeping repo rate and reverse repo rate stable

The monetary policy committee of RBI has decided to keep the repo rate 4% and reverse repo rate 3.35%. This directly impacted banking, realty and auto stocks. The Nifty Bank index closed up 0.88%, PSU index 3.60% and Realty index up 0.68%. On the other hand, the auto index has closed down by 1.32%.

52% shares fall on exchange

It traded in 3,128 shares on the exchange. 1,325 stocks advanced and 1,651 declined. Lower circuit was also held in 204 stocks. Zee Entertainment shares closed down 13% and State Bank shares rose 11%. The market cap of listed companies has increased to Rs 200.33 lakh crore due to record growth. The market cap of listed companies has also increased by Rs 14.20 lakh crore this week. It was Rs 186.13 lakh crore on 29 January. On February 4, the Sensex was up 358 points at 50,614.29 and the Nifty was up 105 points at 14,895.65.

Stove Craft shares listed at 30% premium

The stock of kitchen appliance maker Stove Craft made its market debut on Friday. The stock is listed on the National Stock Exchange (NSE) at a premium of 29.35%. This is the fourth listing of this year. The stock was listed at Rs 498 on the BSE. The issue price of the stock was Rs 385. Earlier, the shares of Indigo Paints were also listed at a premium of 75%. The stock has closed at Rs 445.95, down 4.51% from the listing price.

Growth in global markets

Global markets gained on Friday. Korea’s Kospi index closed up 1.07%, Japan’s Nikkei index 1.54% and Australia’s All Ordinaries index up 1.07%. Similarly, Hong Kong’s Hangseng index has also closed with a gain of 0.41%. On the other hand, China’s Shanghai Composite Index declined 0.16%. Earlier in the US markets, the Dow Jones, Nasdaq and S&P 500 indices closed up over 1-1%.

LEAVE A REPLY

Please enter your comment!
Please enter your name here