Share Market: Bets turned in the last hour… Top-10 shares looked hot, Sensex jumped by as much as 900 points
- On the very first day, the stock market surprised the investors
- Morning slowness and afternoon rush
- What is the situation of Nifty?
Share Market:The stock market surprised investors on the first day of the week. In the morning session, the market was trading in red and sometimes in green, but suddenly around 2 pm, the bet reversed. Sensex and Nifty took ‘rocket’ speed and investors’ faces opened with joy. What exactly happened today?
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Morning slowness and afternoon rush
On Monday morning, the Bombay Stock Exchange (BSE) Sensex opened at 74,415, down from 74,563 points. It had gone as low as 73,949 in early trade. However, at around 2:20 PM, the market suddenly saw a rush of buying. The Sensex settled at 75,502.85 with a major bounce of 938 points (1.26%) at the close.
What is the situation of Nifty?
A similar situation was seen in the Nifty of the National Stock Exchange (NSE). The Nifty opened at 23,116 and fell as low as 22,955. But along with the Sensex, the Nifty also gained momentum and eventually closed at 23,408.80 with a gain of 257 points.
These 10 shares showed strength
Stocks of some of the biggest companies performed well in this sudden rally in the market:
Largecap category: Trent (3.01%), HDFC Bank (2.88%), M&M (2.86%), Bajaj Finance (2.79%), ITC (2.22%) and Tata Steel (2.04%) advanced.
Midcap and smallcap: Paytm (3.86%), Poonawala Fincorp (4.40%) and Apollo Tires (3.38%) also saw big gains.
Why the sudden boom?
There were some major reasons behind this sudden surge in the market in the afternoon: 1. Value buying: When the stock market is at a low level, investors start buying shares at cheap prices. 2. Sector Support: Shares in metal, auto, banking and FMCG (FMCG) sectors helped lift the market. 3. Fears eased: India VIX, considered an index of market fears, fell by 5%, boosting investor confidence.
Important Note: Be sure to consult your financial advisor before making any investment in the stock market.
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