The BSE Sensex closed above the 52,000 mark for the first time on Monday due to buying in shares of banks and financial companies amid rising global markets. The NSE Nifty also surged above 15,300. According to the business, inflation, favorable figures of industrial production and continued foreign capital inflows supported the uptrend. The 30-share BSE Sensex jumped 609.83 points, or 1.18 percent, to end at 52,154.13 points. During trading it had reached a record level of 52,235.97. The National Stock Exchange’s Nifty closed at a record high of 15,314.70 points, a gain of 151.40 points, or 1.0 percent. During trading it had gone up to 15,340.15 points.
Axis Bank was the biggest gainer among the Sensex stocks. It gained 5.88 percent. Apart from this, ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC, BajajfinServ and HDFC Bank also gained momentum. On the other hand, shares declined, including Dr. Reddy’s, TCS, Tech Mahindra, HUL, Asian Paints and Titan. It gained 1.77 percent.
Anand Solanki, head of equity research at Anand Rathi, said that the rally in other markets in Asia, especially Japan, had a positive impact on the domestic market. The Nikki 225 has crossed the 30,000 mark for the first time in more than three decades with the news of Japan’s economy growing 12.7 percent year-on-year in October-December last year.
Wholesale price-based inflation rose sharply to 2.03 percent in January. In other markets of Asia, China and Hong Kong markets remained closed due to the New Year holiday according to the moon. There was a boom in the markets of Japan and South Korea. The opening trend was positive in the major markets of Europe, opening after noon by Indian time. Positive news about the Kovid-19 vaccination and the proposed $ 1,900 billion stimulus package in the US impacted the markets.
Global oil standard Brent crude rose 1.30 percent to $ 63.24 a barrel. The rupee exchange rate closed at 72.68 with a gain of 7 paise against the US dollar.
Stock market closed on green mark last Friday
The stock market closed with a mixed trend on Friday, the last day of the trading session. The BSE Sensex, based on shares of 30 BSE companies, closed at a level of 51,544.30 with a slight gain of 12.78 points. At the same time, the National Stock Exchange (NSE) Nifty lost 10 points (0.066%) to close at 15,163.30.