Trading started in the stock market on Tuesday. The Bombay Stock Exchange (BSE) Sensex rose 209 points to open at 39,267. Similarly, the National Stock Exchange (NSE) Nifty also strengthened 60 points to open at 11,643.95. After this, the Sensex continued to rise until the afternoon with several positive news and by 1 pm the Sensex had risen 525.77 points to reach 39,775.97. The Nifty also reached around 11,773.
Positive Update
A news emerging in the media that the government can drastically cut taxes related to stock trading. The sentiment of the market started strengthening with this. The reports said that the Long Term Capital Gains (LTCG) tax, Securities Transaction Tax (STT) and Dividend Distribution Tax (DTT) are being reviewed by the Prime Minister's Office and Ministry of Finance, NITI Aayog and can be changed. .
Apart from this, quarterly results of companies are also coming better. The results of SBI, Tata Motors, ICICI have improved the market sentiment.
By 10.35 am, the Sensex had reached 39,547. In this way, it gained strength of 280 points from the morning level and had increased by 490 points from Friday's closing level. During trading, the Nifty had reached 11,770.
Significantly, the last trading day of last week i.e. Friday, the Sensex and Nifty closed with a slight increase. At the end of trading, the Sensex closed at a level of 39,058.06 with a gain of 37.67 points, while the Nifty was at a level of 11,583.90 with a slight gain of 1 point. The markets were closed on Monday due to Diwali and Balipratipada.
During the trading on Tuesday, the BSE Midcap, Smallcap also saw strength. If we talk about sectoral indices, BSE Telecom declined by 4 percent. Bharti Airtel, Bharti Infratel and Vodafone Idea declined.
Bharti Airtel has postponed the result date. Today there is good buying in oil and gas stocks. The BSE oil and gas index is trading at a strong 0.46 per cent. The realty and financial services index of the Nifty is also in the green mark. Light purchases are being seen in banking stocks.
Today, Asian markets have started with strength. US markets closed strong yesterday on positive quarterly results and positive news on trade deals. The S&P 500 reached a record high in yesterday's business.
Like every year, this time too, a special session was organized for Muhurta trading on the Indian stock market on Diwali. Actress Mouni Roy and actor Rajkumar Rao were also present in Muhurta Trading. During the Muhurat trading on the occasion of Diwali, the Bombay Stock Exchange Sensex gained 192 points to close at 39,250 on Sunday, while the Nifty climbed 44 points to 11,628. Tata Motors shares rose 16.54 per cent during the business.
The Indian stock market will be waiting for the decision to be taken on the interest rates at the meeting of the US central bank Federal Reserve during this trading week. Apart from this, the market will get direction from the major economic data released during the week. Decisions can be taken in the Fed meeting to cut the interest rate, which will have an impact on the global market and the Indian stock market will also be affected by it.
At the end of the Futures and Options (F&O) segment for the month of October this week, traders will make their positions in the next month's F&O contracts, which can see stock market fluctuations.
India's manufacturing sector data for September will also be released on Thursday. At the end of the week, the figures for market manufacturing September will be released on Friday. The impact of these figures will be seen on the domestic stock market.
On the other hand, the Fed's two-day meeting starts on Tuesday, in which decisions will be taken on the interest rate and this decision will be announced on Wednesday, while on Thursday, Bank of Japan will announce its decision on the interest rate. The market will be watching the investment trends of foreign portfolio and domestic institutional investors.
