The stock market opened strongly on the first trading day of the week. In early trade itself, the Nifty has crossed 11,900. The Bombay Stock Exchange (BSE) Sensex rose 110 points to open at 40,465 in the morning. Similarly, the National Stock Exchange (NSE) Nifty opened at 11,915.15 with a strength of about 20 points.
Prominent among the rising stocks were Zee Entertainment, Tata Steel, BPCL, L&T, JSW Steel, PNB, SBI etc., while Bharti Infratel, Yes Bank, GAIL, Reliance Communications, Bajaj Auto, HDFC were the leading stocks. By the way, the indices of all sectors are showing in green mark.
It is worth noting that on the last trading day of last week i.e. on Friday, the 30-share BSE Sensex closed up 70.21 points, or 0.17 percent, at 40,356.69 points. Similarly, the National Stock Exchange's Nifty closed at 11,895.45 points, up 23.35 points or 0.20 percent.
Last week was a very special day for HDFC Bank. Actually, the bank's market cap reached over 7 lakh crores during the business. This is the first time the market cap of a bank has crossed the 7 lakh crore mark. With this, it has become the third largest firm in the country in terms of market cap. HDFC Bank is ahead of TCS and Reliance Industries. However, HDFC Bank had a market cap of 6.99 lakh crore at the end of business.
The signals from the foreign market will determine the movement of the domestic stock market this week, especially the market will keep an eye on the progress towards resolving trade issues between the US and China. At the same time, the trend towards investment of foreign portfolio investors and domestic institutional investors will also give direction to the market. Apart from this, the direction of the market will also be determined by the price of crude oil in international market and the movement of rupee against dollar.
