The domestic stock market opened with tremendous gains today. BSE Sensex opened at a record high level up 240 points. It crossed the 53,000 points for the first time. The Sensex has fallen nearly 200 points from the high of 53,057 points. Nifty is currently close to 15,850 points.
The Sensex, which closed at 52,574 points on Monday, opened up about 600 points today. Nifty, which closed at 15,746 yesterday, gave a strong start of 100 points. There is an all-around boom in the market. Along with big companies, there is also buying in the shares of small and medium companies.
Nifty's mid-cap index is up almost 1%. The NSE Small Cap Index has gained more than 1%. The biggest jump has come in the auto index of Nifty. The selling trend is only in Nifty Pharma. There is buying in the shares of public sector banks and indices of metal stocks are also supporting the market.
According to experts, an interest rate hike in the US in the next two years is a big risk for the domestic market. Investors were puzzled by conflicting statements from senior officials about what the Fed Reserve would take on this front. Now some clarity has come in this matter.
The volatility index India VIX is down over 3%. A fall in this index is an indication of the continued strength in the stock market. It had gained 1.76% on the first trading day of the week.
Barring Hong Kong's Hang Seng, most of the Asian markets remained firm. Japan's Nikkei index is up nearly three percent. Korea's Kospi and China's Shanghai Composite are up nearly one per cent. Australia's All Ordinary has a jump of about 1.5%.
According to provisional data available on the NSE, on Friday, June 21, foreign institutional investors (FIIs) sold shares worth a net Rs 1,244 crore. That is, he had sold shares worth so much more than the rupee shares he had bought. Domestic institutional investors (DIIs) had bought shares worth a net Rs 138 crore.
12.26 PM Business is being done in a limited range in the market. Nifty is trading near 15,850.
11.10 AM Except for Nifty Pharma and FMCG, most of the Nifty sector indices have gained.
10.50 AM Most of the Sensex stocks is strong. Maruti has a jump of over 4%. Yesterday the company had expressed its intention to hike the price.
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