Stock Market on 9 Month High: The stock market has reached a 9-month high today. In today’s trade, the Sensex gained 543 points to close at 41,883.59. At the same time, the Nifty has also managed to cross 12250 by gaining 130 points. The stock market has been trending steadily for the 5th consecutive day and today this level is the highest after 9 months i.e. 24 January. Talking about the benchmark index, it is just 2 percent behind its high. In today’s business, not only large-cap but also midcap was good. Amid this upswing, investors have earned more than 6.3 lakh crores since November 2.
Market cap increased by 6.3 lakh crores in 5 days
This rally continues in the market from 2 November. Between November 2 and November 6, the market cap of BSE listed companies has increased by about 6.3 lakh crores. On November 2, it was Rs 1,57,18,574.96 crore, which has increased to Rs 1,63,55,894.04 crore in today’s boom. That is, meanwhile, investors have earned 6.3 lakh crores. What is the big reason behind this boom….
Election rally in the US
The rally in the stock markets continues amid the Presidential election in America. There has been a great boom in the US market since 2 days. On Thursday, the Dow Jones gained 543 points, or 1.95 per cent, to close at 28,390. Nasdaq was up 300.15 points, or 2.59 per cent, and closed at 11,891. The S&P 500 index gained 67.01 points, or 1.95 per cent, to close at 3,510.
Banks, financiers, metal and IT boom
Talking about the last 3 to 4 days, in addition to banks, financial stocks, metal and IT stocks have seen a great boom. Even today, the bank and financial index look strong about 2 percent. Talking about the last 2 days, the stock market has got strong support of IT, metal and auto stocks.
In today’s business, there has been a rally in heavyweights including RIL. Today, RIL’s stock has strengthened about 4 percent. Saudi Arabia’s Public Investment Fund (PIF) has announced an investment of Rs 9,555 crore to buy a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL) owned by industrialist Mukesh Ambani. After this, there has been a spurt in shares.
Rally in heavy stock
Today, a rally has been seen in heavy stocks. Apart from RIL, Bajaj Finserv, IndusInd Bank, HDFC Bank, Kotak Mahindra Bank, HDFC, Tech Mahindra, M&M, ICICI Bank, Infosys, HCL Tech and Bajaj Finance gained momentum. A similar rally was witnessed in the heavy stocks for the last 2 days.
FII increased shopping
Foreign institutional investors are looking bullish on the market. They are constantly shopping in the market. They have been net buyers on every business day in November. In November, he made a net purchase of 8,529.54 crore.