MumbaiA few moments ago
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After the announcement of ceasefire between India and Pakistan, the stock market is a big boom today. The Sensex is trading at 81,700 levels by climbing 2200 points (2.80%). The Nifty also has a gain of about 700 points (2.86%). This is at 24,700 levels.
29 out of 30 shares of Sensex are rose. 17 shares including Adani Ports, Bajaj Finance, Axis Bank are up to 4.5%. While the lone sunfharma has fallen 5.5%.
47 out of 50 shares of Nifty are rose. Realty in sectoral indices is 4.71%, metal 3.40%, 2.88%in government bank, 2.84%in private bank, 2.39%in IT and 2.33%in auto.
Mid-small cap index gains about 4%
- The gift Nifty traded on the International Exchange of NSE is around 750 points (3.10%) at 24,800.
- The Small-Cap index of BSE is trading at 48,420 above 1,678 points (3.59%).
- The mid-cap index has a gain of 1,175 points (2.79%), trading at 43,287 levels.
4 reasons for today’s boom in the stock market
- After ceasefire, tension between India and Pakistan has decreased. Investors will keep an eye on all the developments related to this case.
- The figures for the month of April of retail inflation will be released on 13 May. Inflation is expected to come down to 3% in April.
- The quarterly results of several companies including MRF, PNB Bank, Hindustan Petroleum, Adani Ports and Adani Enterprises were better than expected.
- Last week, foreign institutional investors (FIIs) continued their purchase and made a purchase of about Rs 5,087 crore in the segment.
Mixed business in global market
- In Asian markets, there is a slight rise in Nikkei, Japan. It is trading at the 37,520 level. Korea’s Kospi is at 2,588 above 0.41%.
- Hong Kong’s Hangseng index rose by 156 points (0.68%), trading at 23,024. At the same time, China’s Shanghai composite closed at 3,355 after a slight decline.
- On May 9, the US Dow Jones fell 119 points (0.29%) to close at 41,250. The Nasdaq Composite closed at 17,929 with a slight rise. The S&P 500 index was also slight decline, it closed at 5,660.
Foreign investors remained confident in market
- On 9 May, foreign investors sold Rs 3,798.71 crore. While domestic investors purchased shares worth Rs 7,277.74 crore during this period.
- So far in May, FIIS has purchased Rs 7,857.23 crore and DIIS has a net purchase of Rs 13,741.45 crore.
- Net purchases of foreign investors in April stood at Rs 2,735.02 crore. Domestic investors also purchased a net of Rs 28,228.45 crore in a month.
The market had dropped about 900 points on Friday
The stock market declined on the last trading day of last week i.e. Friday, May 9. The Sensex fell 880 points (1.10%) to close at 79,454. The Nifty also declined by 266 points (1.10%), it closed at 24,008 levels.
The Sensex declined 25 out of 30 shares. ICICI Bank came down 3.24%. A total of 16 stocks, including Power Grid, Ultratech Cement, Bajaj Finance, Reliance, closed down nearly 3%. However, Titan, Larsen and Toubro, Tata Motors and SBI climbed by 4.25%.
38 out of 50 shares of Nifty declined. The realty sector declined 2.38%, financial services 1.76%, private bank 1.29% and oil and gas declined by 0.78%. Whereas, the government banking index closed 1.59% media 0.95% and Consumer Durables closed up 0.92%.
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