Today, on Dhanteras on November 6, the Sensex rose 600 points or 0.75% to 79,900 amid the decline in markets around the world. There is a rise of 100 points in Nifty, it is at the level of 24,650. Yesterday there was the second biggest rise of the year in the market. Sensex had gained 2009 points and closed at 79310. Earlier on April 8, the Sensex had risen 2,946 points. Markets of Korea and Japan fell by 6%, American markets also fell by about 5%, Stock market rose by more than 8% in 7 days, today is the seventh consecutive day of rise in the stock market. Between October 28 and November 6, the Sensex has jumped from 73,246 to beyond 79,400. That means it has increased by more than 8%. Foreign investors bought shares worth Rs 32 thousand crore in 7 days. Note: Net buying/selling figures of FIIs and DIIs are in crores of rupees. Expert said – Expectation of reduction in LTCG tax has improved the environment. Dr. VK Vijayakumar of Geojit Investments says that the possibility of change in LTCG tax along with better results and cheap crude oil has changed the outlook of FIIs. Global brokerage Nomura also considered this the reason for the withdrawal of foreign investors. The rise in large cap shares may continue further. There is a rise in big shares due to initial buying by foreign investors. Vijayakumar is hopeful that the big stocks of banking and financial sector may see further rise. He said there is still more short covering in largecap stocks, hence further recovery is expected in big stocks led by banking and financial stocks. However, Vijayakumar has also warned that as the market goes up, domestic investors may sell shares to book profits. This may lead to selling at upper levels. The market was bullish yesterday also
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Sensex 600, Nifty rose 100 points on Dhanteras: Rise of more than 8% in 7 days; America, Japan, Korea markets fell by more than 5%
