After gaining historical highs in intraday trading on Monday, the stock market opened strongly on Tuesday. The business started this morning with a gain of 58 points in the Sensex compared to Monday. Bombay Stock Exchange Sensex opened at 40,360. Similarly, the National Stock Exchange's Nifty opened with a gain of 33 points at 11,974.6. However, later the market boom declined. By 10 am the Sensex had reached 40,304.
Jhunjhunwala bought Yes Bank share
643 stocks of NSE and 384 declined in the beginning of business. The leading stocks of growth were the auto and pharma sectors, while the FMCG sector saw a decline. The most movement was seen in Yes Bank stock.
It has been reported that the legendary investor Rakesh Jhunjhunwala has bought a stake of Rs 86.89 crore from Yes Bank. Due to this, Yes Bank shares rose 9 percent during trading this morning. Yes Bank's share price reached Rs 70.40 at the start of business. However, it softened slightly later. As of 10 am, Yes Bank's share price was Rs 68.45.
According to the news, Rakesh Jhunjhunwala has bought 1.29 crore shares of Yes Bank by buying in the open market on November 4. It is 0.5 per cent stake of the bank. He has bought shares at an average price of Rs 67.1.
Significantly, the stock markets of the country had recorded a boom on Monday. The major index Sensex gained 136.93 points to close at 40,301.96 and the Nifty rose by 50.70 points to end at 11,941.30. The 30-share BSE Sensitive Index Sensex opened 128.82 points higher at 40,293.85 in the morning and closed 136.93 points or 0.34 percent higher at 40,301.96.
The Sensex touched a high of 40,483.21 and a low of 40,186.29 in day trading. During trading, the Sensex's upper level of 40,483.21 is the all-time high ie the all time high level.
The Indian stock market remained trendy in the past week, but this week, the key economic data and the signals from foreign markets will determine the movement of domestic stock market, in which foreign portfolio investors and domestic institutional investors have an important role in investment trends.
Data for Market Services PMI for October will be released on Tuesday. Apart from this, some major companies of the country may release their financial results for the second quarter of the current financial year, which will have an impact on the market. Also, the market will keep an eye on the prices of crude oil and the movement of the rupee against the dollar.
