On the first day of the week, the stock market has started tremendously. The Sensex has seen a good boom, the Nifty has set a new record of height. The Bombay Stock Exchange (BSE) Sensex opened with a gain of 220 points at 41,821 in the morning, while the National Stock Exchange (NSE) Nifty also gained about 40 points to open at 12,296.70.
During trading, the Nifty climbed to a new record high of 12,337. There was a spurt in 779 shares and a fall in 175 stocks. Infosys, Tata Steel, Wipro, ICICI Bank, IndusInd Bank, Bajaj Finance, Sun Pharma and Avenue Supermart were the leading stocks to rise, while Yes Bank, Tata Motors and Dr. Reddy’s Lab were the leading losers. Infosys saw a 3 percent rise. The December quarter figures of the company have been improved.
Status of Sensex shares at 10 am
The domestic stock market remained very volatile in the last trading week due to recent tensions between Iran and the US, although the Sensex and Nifty rose on a weekly basis. The Nifty rose to record levels during the week. The 30-share BSE Sensitive Index Sensex closed at 41,599.72 on Friday. The Nifty, a sensitive index based on 50 shares of the National Stock Exchange (NSE), also closed at 12,256.80. During the last trading session of the week, the Nifty jumped by a record 12,311.20.
The domestic stock market’s move will be decided this week, along with trade agreements between the US and China and tensions in the Gulf region, as well as key economic data and third quarter results of domestic companies. Also, the events ahead of the upcoming budget can also have an impact on the market.
The stock market has been undergoing a lot of ups and downs in the atmosphere of uncertainty over the military tensions in the Gulf region due to the confrontation between the US and Iran last week, although this week, the Indian stock market has to resolve trade issues between the US and China. One can get direction from the first phase of the agreement. Also, military tensions in the Gulf region have reduced, but the bitterness between the US and Iran has not diminished.
The consumer price index based inflation data for December will be released at the beginning of the week on Monday. On the next day, the data on wholesale inflation will be released on Tuesday. At the same time, financial results of the third quarter of the current financial year will also be released by some major companies of the country.
The first phase of the trade agreement between the US and China is expected on January 15. This will create a positive environment in the global market, which will also have an impact on the Indian stock market. Apart from this, the stock market will also be affected by the major economic data released abroad.