The market opened strongly on the first day of the week. Sensex opened at 56,329 and Nifty opened at 16,775. Currently, Sensex is trading 330 points higher at 56,450 and Nifty is trading 100 points higher at 16,800.
There is a lot of shopping going on in the market. Out of 30 Sensex stocks, 29 stocks are buying and 1 is down. In which the shares of Titan and Tata Steel have gained more than 1%.
2,360 shares are being traded on BSE. In which 1,785 shares are trading with an increase and 468 shares are trading in red mark. With this, the total market cap of companies listed on BSE has crossed Rs 245.79 lakh crore for the first time. Earlier on Friday, the Sensex climbed 176 points to 56,124 and the Nifty climbed 68 points to close at 16,705.
There is a lot of buying in auto and metal shares. Metal indices on NSE are trading with a gain of 1.60% and auto index by 1.48%.
Earlier, buying was also seen in the US stock market. The Dow Jones closed at 35,455 with a gain of 0.69%. The Nasdaq gained 1.23% to 15,129 and the S&P 500 0.88% to 4,509.
After reaching its lowest level in April 2020, NSE Nifty has now more than doubled. There has been a jump in all sectors, while small-cap and mid-cap have reached their record highs. In this period, the Indian stock market has given a large number of multibagger shares.
If one has the ability to hold the stock for as long as possible, then this multibagger can also turn into huge returns. One of these is 'Mindtree' company. The stock of this IT company has registered an increase of 41 times in the last 10 years. A decade ago, the company's shares were priced at Rs 81.75 per stock, which has now increased to around Rs 3355.
This multibagger stock has increased from Rs 2930 to 3355. It has lost around 14 percent in the last 5 trading sessions. In the last month, the price of Mindtree Shares has increased from 2762.95 per stock level to 3355.40.
This IT stock has given multibagger returns to its shareholders in the last six months as the share price has increased from Rs 1614.55 per share to Rs 3355.40. During this period, an increase of about 107 per cent has been registered in the prices. However, in the last year, the share price of Mindtree has reached close to 185 percent.
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