Stock Market Performance:
Today, where there was a good day for those investing in IPO, there is a boom in earnings in the stock market. Today, the Sensex rose 640 points to reach the level of 38708 due to heavy buying in heavy shares. The Nifty regained 11400 levels. In the midst of this boom of the market, investors also remained heavily silver. In just a few hours of business, his wealth increased by nearly 2 lakh crores. In addition to bank and financial shares, auto stocks have also seen good growth. IndusInd Bank, Bajaj Auto and Bajaj Finance received the highest returns among the leading stocks.
Investor’s wealth increased by 2 lakh crores
Today the Sensex rose by 640 points to reach the level of 38708. At this stage, the market cap of BSE listed companies increased to 15732653 crore. While on Wednesday, the market cap of BSE listed companies was 1,55,24,267.37 crore. Overall the market cap increased by about 2.08 lakh crores.
These include Top Gainers
- Stock CMP Bullish
- IndusInd Bank 574.80 8.99
- Bajaj-Auto 3,031.60 5.22
- Bajaj Finance 3,414.20 4.14
- Axis Bank 441.25 3.91
- ICICI Bank 368.55 3.89
Signs of recovery in the economy
According to Reuters, the factory activity in India has been the fastest in 8 years in September. Manufacturing PMI is at the top of eight and a half years in September. There has been a surge in new orders and products. Factory activity is getting improved after the relaxation of the lockdown restrictions. Investor sentiment strengthened by signs of recovery in the economy.
Strong global signal
Talking about global signals, today it has been positive for the market. Expectation of relief package has been rising in US markets on Wednesday. Jobs are being started again. Private jobs increased by 749,000 in the US this month. At present, the Dow Jones gained 329.04 points or 1.20 percent on Wednesday and closed at the level of 27,782. Nasdaq gained 82.26 points, or 0.74 per cent, to close at 11,168. The S&P 500 index gained 27.53 points, or 0.83 per cent, to close at 3,363. On Thursday, the SGX Nifty is also growing.
Unlock 5.0 has started across the country from today. For this, the Ministry of Home Affairs has issued guidelines. The government has given permission to open cinema hall, entertainment park, swimming pool from October 15. After October 15, the state governments will be able to decide on their own regarding opening of schools and coaching centers. Amusement parks and similar places will be allowed to open. Now, with the increase in concessions, the pressure on the economy is expected to end.
Great performance of bank shares
In today’s boom, there has been a big role of good buying in bank and financial shares. Bank index is up 3 per cent or about 650 points on the Nifty. IndusInd Bank, RBL Bank, Bandhan Bank, Axis Bank, ICICI Bank, Kotak Bank and SBI are up 2.5 percent to 9 percent.
Good data on auto sales in September also indicated a recovery in demand. Bajaj Auto sales have grown by 10 per cent on an annual basis. Maruti’s sales grew by 30.8 percent.
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