Business Desk – Share Market Today: There is a strong rise in the share market today i.e. on 20th August. Sensex has risen by more than 500 points and is trading at the level of 77,400. At the same time, Nifty has gained more than 100 points and has reached near 24,200. Buying is being seen in the market especially in IT and Banking Stocks.
What is the biggest reason for the rise in the market?
Today there is a buying environment in the domestic stock market. Amid the rise in both Sensex and Nifty, strong buying in IT and banking stocks is supporting the market. There was a decline in the market in the last trading session, hence today's increase is also being seen as buying by investors.
Tempus Instruments IPO opens from today
The IPO of Tempsens Instruments Limited has opened for subscription from today i.e. 20th August. Investors will be able to bid in this IPO till August 24. The company is in the business of thermal engineering and specialized cable manufacturing. The company has come to the market with a plan to raise about Rs 650 crore through IPO.
Due to the new IPO, investors are keeping an eye on the stock market today. Investors are also keeping an eye on the company's business, issue size and possible listing before investing money in IPO.
Asian market also saw a boom
There was mixed trading in Asian markets today. According to the given data, KOSPI was up 382 points or 5.71% at 6,853, Japan's Nikkei was up 656 points or 1% at 65,982 and Hong Kong's Hang Seng was up 216 points or 0.85% at 25,711.
What happened in the US market data?
In the US market data of August 19, Dow Jones was up 120 points or 0.22% at 53,463, Nasdaq was up 41 points or 0.16% at 26,331 and S&P 500 was up 16 points or 0.21% at 7,708. That is, according to the given data, all three major American indices remained on the rise.
DII invested Rs 12,011 crore in 7 days
Buying by Domestic Institutional Investors (DII) is also an important signal for the market. According to the data, DII has bought shares worth Rs 12,011 crore in the last 7 days. His purchases in the last 30 days have been Rs 42,078 crore. Whereas FII/FPI purchases were Rs 33 crore in the last 7 days and Rs 1,879 crore in the last 30 days.
Why did the stock market fall yesterday?
Earlier on August 19, there was a decline in the market. The Sensex fell 326 points and closed at 76,910. Nifty also lost 77 points and closed at the level of 24,078. In comparison, strong recovery is being seen in both the major indexes today. Now investors are keeping an eye on whether this bullishness continues till the end of trading or whether the market again falls into the grip of profit-booking.