On the first day of the week, trading in the stock market has started strongly. The Bombay Stock Exchange (BSE) Sensex opened 73 points higher at 41,648. The Nifty of the National Stock Exchange also went above 12250. Nifty bank reached record high.
In the morning, the Nifty opened with a gain of 29 points at 12,274, in a short time it reached the level of 12,285.7. The Nifty Bank has crossed its previous high of 32,502.80, reaching a new high of 32,534.45. By 9.30 am, the Sensex had gained 135 points to reach the level of 41,710. The BSE saw a spurt of 530 shares and a decline of 191 shares at the start of trading.
The leading stocks that rose included Mahindra & Mahindra, Adani Port, Bharti Airtel, Sun Pharma, Kotak Mahindra Bank, etc., while Yes Bank, Coal India and Zee Entertainment were the leading losers.
The rupee started flat and opened at 71.35 per dollar. Significantly, after the decline in three consecutive trading sessions last week, the stock market recorded a sharp rise on Friday on the last trading day. At the end of trading, the SENSEX closed at 41,575 points with an increase of 411.38 points ie about 1 percent. Talking about the Nifty, it rose by 119.25 (0.98%) points to 12,245.80 points.
The movement of the Indian stock market will also be largely determined by foreign signals this week. Especially at the end of 2019 and the beginning of the new year 2020, the progress will be made in the direction of resolving the business issue between the world's two economic superpowers, US and China.
At the same time, the market will keep an eye on the major economic data released this week. The movement of the rupee against the dollar in the Indian stock market and the fluctuation in the price of crude oil in the international market can also be seen.
Crude oil prices have gained support in recent times due to the progress being made towards resolving trade issues between the US and China. The market will also keep an eye on the investment trend of foreign portfolio investors and domestic institutional investors.
At the beginning of the new year itself, auto companies will release their sales report for the month of December, which can have an impact on the market. Before this, the data for the production of the country's infrastructure sector will be released on Tuesday, December 31.
At the same time, on the second day of the new year, on Thursday, the figures of Market Manufacturing PMI i.e. Purchasing Managers' Index will be released in December. The market will be determined by these figures. Apart from this, the impact of foreign economic data can also be seen on the market.
