On Wednesday, the second day of the week, the Indian stock market started on a slow note. However, the market gained tremendous momentum in the last hour of trading. Around 3 o’clock in the afternoon, the Sensex was shown to be strong above 630 points and traded above 38 thousand 100, while the Nifty rose 190 points and crossed the 11300 level. During this period, banking and auto sector witnessed the fastest.
Reason of Boom
– The international factor played an important role behind this boom in the stock market. Due to the softening of the trade war between the US and China, if the recovery in Asian markets was seen, then India was not untouched. Stock market experts say that due to the softening in the trade war, there may be more boost in the domestic market in the coming days.
In fact, ahead of China’s Deputy Prime Minister Liu, he’s visit to the US, US President Donald Trump said that his policy of imposing additional duty on Chinese goods had the desired result. He said, ‘We have received a considerable amount in the form of imposition of duty on Chinese goods. There is great potential for a trade agreement with China. Whether or not there is an agreement, I do not know but there is definitely a good possibility.
Before this, after about 1 hour of opening with a slight increase, the Sensex and Nifty were seen trading on the red mark. However, after 12.30 pm, the Sensex and Nifty gained momentum. The SENSEX has crossed the level of 37 thousand 800 with an increase of over 300 points, while the Nifty was trading at a level of 11 thousand 215 after rising by 90 points.
At the same time, at 10.30 in the morning, the Sensex was down by about 40 points and was seen trading below 37,500. Similarly, the Nifty was trading at a level of 11,120, slipping about 10 points. During this time, Yes Bank shares fell by 8%, while HCL, Hero MotoCorp, TCS, SBIN and Tata Motors also recorded a big decline. The leading stocks include Mahindra, L&T, NTPC, Kotak Bank, Asian Paint and ICICI Bank.
– Let us tell you that in the morning, the major index Sensex gained 96.07 points to 37,628.05, while the Nifty gained 26.55 points to open at 11,152.95. Let us know that the stock markets were closed on Tuesday due to Dussehra.
Market condition on Monday
The market also saw a downward trend on Monday. On the first trading day of the week, the Sensex slipped 141 points to close at 37,532, while the Nifty was at 11,126 points with a weakness of 48 points. During the day’s trading, the Nifty rose to 11,233.85 points, while the lower level was 11,112.65. Similarly, the Sensex’s low was 37,480.53.
Let us tell you that the Indian stock market is witnessing a decline for 6 consecutive business days. The Sensex fell by 1,149.26 points, or 3 per cent, to close below the 38,000 level in the previous trading week. At the same time, the Nifty also lost nearly 337.65 points and came down to 11,200.