On the first trading day of this week, the stock market closed with a strong lead. The Sensex ended with a gain of 398 points at 37418, while the Nifty was able to reach a level of 11,022.20 with a jump of 120.50 (1.11%) points. For the first time since March 6, the Nifty has crossed 11,000. It had to travel a whopping 89 seasons to reach it. If you talk about the sectoral index, all indexes except Nifty Pharma closed with a green mark.
Today, the index which closed with benefits included Bank Nifty, PSU Bank, Private Bank, Financial, Metal Index, IT FMCG, Media, and Reality. If we talk about Nifty Top Gainer, Britannia, Wipro, Tech Mahindra, Infosys, and HCL Tech are the main ones, while if we talk about losers, then stocks like Sun Pharma, Cipla, Zee Limited.
After the impressive financial performance of HDFC Bank during the first quarter of the current financial year, the Bombay Stock Exchange saw a rise of up to five percent on Monday. It later closed at Rs 1127.55, up 2.77 percent. HDFC Bank said on Saturday that its net profit had increased by nearly 20 percent to Rs 6,658.62 crore in the June 2020 quarter. The bank’s income increased to Rs 34,453.28 crore in the quarter under review, from Rs 32,361.84 crore in the year-ago period.
The stock market started its day trading today with spectacular growth. On Monday, the first trading day of the week, the 30-share BSE Sensex opened with a gain of 389 points at 37,409.03, while NAE’s Nifty also started trading with a green mark. In early trade, the Sensex was up 328.77 points at 37,348.91, while the Nifty was up 91.95 (0.84%) at 10,993.65.
In early trade, mainly financial and IT stocks led the rally. Sensex included HDFC Bank, ICICI Bank, HCL Tech, Infosys, and Axis Bank among the rising stocks.
FPI Withdraws Rs 9,015 crore from Capital Markets
Foreign portfolio investors (FPIs) remain sellers in Indian markets in July. He has withdrawn Rs 9,015 crore from Indian capital markets (shares and bonds) so far this month. The surge in markets amid rising cases of Kovid-19 has given foreign investors the opportunity to reap profits, which has led to the sell-off. According to depository data, FPIs have withdrawn Rs 6,058 crore from stocks and Rs 2,957 crore from debt or bond markets from July 1 to 17.
Thus his net withdrawal has been Rs 9,015 crore. Earlier in June, FPI infused Rs 24,053 crore in domestic markets. Research director Himanshu Srivastava, associate director-manager of Morningstar India, said the market boom has given him a profit-booking opportunity. Also, due to the increasing cases of Corona, some states are imposing fresh restrictions. This has led to fears that it will take time to improve the domestic economy.
The stock markets gained for the fifth consecutive trading session on Tuesday and the BSE Sensex closed with a gain of 187 points. Shares of financial companies were quickly offset by losses in companies in the power and infrastructure sectors. The 30-share Sensex gained 187.24 points, or 0.51 percent, to close at 36,674.52 on Tuesday in a volatile business. The Nifty of the National Stock Exchange also closed with a gain of 36 points, or 0.33 percent, at 10,799.65. Bajaj Finance was the biggest gainer among the Sensex stocks. It gained about 8 percent. Apart from this, IndusInd Bank, Bajaj Finserv, Infosys, ICICI Bank, Axis Bank, and HCL Tech also gained momentum. On the other hand, NTPC, ITC, Powergrid, and Tata Steel were the losers.
According to traders, domestic investors did not give due importance to the weak trend of global markets and kept attention on positive things like constant foreign capital inflow and better monsoon. According to the provisional data available with the stock market, foreign institutional investors were net buyers in the capital market on Monday and bought shares worth Rs 348.35 crore.
However, given the increasing cases of Kovid-19, investors looked a little worried. This puts some control over the speed. According to the Health Ministry data, the number of coronavirus infection cases in the country has increased to 7,19,665 while 20,160 people have died. Globally, the number of infected cases has reached 1.16 million, while 5.38 lakh people have died.
In other markets of the world, Shanghai closed marginally higher in China while Hong Kong declined. Japan’s Tokyo and South Korea’s Sol markets also declined. In early trade, the major stock markets of Europe also declined. Meanwhile, international oil standard Brent crude futures declined 1.02 percent to $ 42.66 a barrel. At the same time, the rupee fell 25 paise to close at 74.93 against the US dollar.