The stock market remained bullish today due to the mixed effect of global trends and the possibility of a pick-up in the country’s economic growth. The Sensex closed at 51937 today, up 514 points.
The index performed better on May 31, ie Monday, due to the boom in large stocks in the stock market since this morning. Where Nifty 50 crossed the 15 thousand mark and created a new record. So the BSE BSE Sensex came down by touching the level of 52,000. Today Sensex closed up 514 points at 51937, while Nifty closed up 147 points at 15582 level.
Energy, metals, telecom and oil & gas stocks outperformed on mixed global trends. On the other hand, there was profit-booking in the stocks of IT and auto space. Top gainers in the Sensex today include Reliance, ICICI Bank, Bharti Airtel, ITC, Dr Reddy’s and Maruti. Their shares have seen an increase of 3.13 percent. On the other hand, stocks of companies like M&M, Infosys, IndusInd Bank, L&T and Sun Pharma have lost up to 4.4 per cent today.
According to economists, in the January-March quarter, the country’s economic growth is expected to pick up compared to the previous three months, due to the possibility of a bullish trend in the stock market today. Investors’ perception has changed in the last few days due to the steady decline in daily COVID-19 cases in India. They are investing money in the market. The depletion of corona cases is a positive sign. Unlocking has started in many states, which will accelerate economic activities.
However, the increase in cases abroad can also have a negative impact on the Indian market. In this regard, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, told news agency PTI, “Fresh cases of corona are increasing in countries like China and Vietnam. This could prove to be detrimental to the Asian markets in general.”
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