The stock market has come a long way from the low levels. After going up to 53,008, the Sensex fell to 52,653. Similarly, the Nifty reached 15,876 and went down to 15,768 with a sharp decline. At present, Nifty is close to 15,850 and Sensex is trading near 52,950.
In the midst of volatility in frontline stocks, the index of small and medium stocks is rising. Nifty Mid Cap is up more than half per cent from the previous closing level. The small Cap Index is trading with a strength of about 0.1%. The market is getting the support of strength in most of the sectors including Nifty IT and Metal.
The effect of strength in foreign markets was also seen in the domestic market on Friday. BSE's 30-share Sensex opened with a gain of 130 points at 52967.87. NSE's 50-share Nifty also started trading at 15856.80, up 32 points from Thursday's closing level.
India VIX, which gives information about traders' speculations about the volatility in the market, had a sharp fall of 9.96% on Thursday. The decline in volatility shows, the dominance of bulls who bet bulls on the market is increasing, buying every major fall in the market is a sign of this. Futures market deals are indicating the Nifty to remain in the range of 15,600 to 16,000.
Today there is a mixed trend in the Asian markets. Japan's Nikkei is up about 0.6%. China's Shanghai Composite is down 0.65%. Hong Kong's Hang Seng is down 0.1%. Korea's Kospi is up 0.2%. Australia's All Ordinary has a 0.1% lead.
US markets remained firm on Thursday. The Dow Jones closed with a gain of 0.07%. The Nasdaq gained 0.36%. The S&P 500 was up 0.20%. There was a mixed trend in the European markets yesterday. France's CAC closed up 0.27%. Germany's DAX gained 0.60%. Britain's FTSE fell 0.43%.
According to provisional data available on the NSE, on July 22, foreign institutional investors (FIIs) sold shares worth a net Rs 247.59 crore. That is, he sold shares worth so much more than the number of shares he bought. Domestic Institutional Investors (DIIs) bought shares worth a net Rs 942.55 crore.
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