Stock market: The benchmark index is closed with a positive attitude on 17 September. The Nifty has reached above 25,300. At the end of the trading session, the Sensex rose 313.02 points or 0.38 percent to 82,693.71 and the Nifty rose 91.15 points or 0.36 percent to 25,330.25. Today, about 2311 shares saw a rise. 1655 shares declined. At the same time, there was no change in 164 shares.
Tata Consumer, SBI, BEL, Kotak Mahindra Bank and Maruti Suzuki Nifty were the top gainers. While HDFC Life, Tata Steel, Bajaj Finserv, Titan Company and SBI Life Insurance Nifty were among the top loser.
Looking at sectoral indexes, FMCG, Consumer Durables, Telecom and Metal Index declined. Whereas auto, PSU bank, IT, oil and gas saw an increase of 0.5-2.6 percent. The BSE midcap index was flat. While the Smallcap index saw an increase of 0.5 per cent.
Market experts say that this boom in the market has come due to expectations arising about a possible trade deal between India and the US.
Bonanza Research Analyst Vaibhav Vidwani Said that the hope made by the US Fed to the possible cuts in interest rates today has triggered a boom in the market. Talking about different sectoral indexes, the index of public sector banks has increased strongly. In this, the shares of Bank of Maharashtra, Canara Bank, Punjab National Bank and SBI gained 2-4 percent.
Vidwani said that the market is maintaining a rapid trend with vigilance. The focus of the market is on the upcoming macro economic figures and corporate earnings of the second quarter. Investors are eyeing the progress in the US monitorial policy and trade deal. Overall, there is a steady trend in the market. The market will continue to support from strong domestic signals and improvement in global market. However, sometimes there can be ups and downs.
Ajit Mishra of Railways Broking Says that after the beginning of the sluggish trading session on Wednesday, there was a boom in the market which indicated the market alert stance with positive. After a strong start, the Nifty continued trading in a limited range throughout the day and closed at 25,330.25. The performance of various sectors was mixed.
Despite the limited scope trading, the market was strengthened due to policy reforms and expectations about strong domestic investment. However, the trend of selling and vigilance of foreign institutional investors before the US Fed decision has limited this boom. The Nifty is now moving towards the level of 25,500 due to the boom in banking shares and all sectors shopping. The market would be advised to adopt a strategy of “shopping on fall”. Support is visible around 25,050-25,150 for Nifty. Due to global events, heavy volatility can be seen in the market, so the size of the position is expected to be kept light. While keeping the possibility of high volatility due to global events, keep the position size moderate.
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