Stock Market News: On Monday, the first trading day of the week, there was a tremendous rise in the domestic stock market due to strong buying in IT, metal and auto shares and the market closed on a strong note for the second consecutive day. BSE’s 30-share Sensex closed at 85,567.48 with a gain of 638.12 points, while NSE’s Nifty-50 also rose by 206 points to reach 26,172.40. Behind this strength of the market, factors like cut in interest rates by the US Federal Reserve, positive signals from global markets and adequate liquidity in the system played an important role.
stock market boom
According to Vinod Nair, Head of Research, Geojit Investments Limited, global monetary softening at the end of the year and capital available for investment have supported the market, while re-buying by foreign institutional investors who had been selling for a long time has also strengthened the confidence of investors.
Especially good growth was seen in IT and metal stocks, which gave broad support to the market. On the other hand, due to continuous purchases by central banks, gold prices remain at a record high, which clearly shows the inclination of investors towards safe investment options.
Investors are being cautious
However, despite the bullishness, investors are not completely sure and are waiting for the third quarter GDP data, policy clarity and progress related to trade agreements to decide the future direction. There is currently an atmosphere of cautious optimism in the market amid global uncertainties, fluctuations in crude oil prices and geopolitical factors.
Also read: There are many features of the four new labor codes, but why was the government not paying attention to them?
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
