The stock market seems to be in control of the bulls again. After a long time, a vibrant shopping environment has been seen in the market. A shopping mall is visible in the market. Recovery has also been seen in Adani’s shares.
Nifty has closed at 23907 points with a gain of 557 points. The Sensex has closed at the level of 79117 with a rise of 1961 points. There has been some buying seen in small and medium stocks also.
All the sectoral indices of Nifty are at their mark and public sector banks are major contributors to the market decline. These and reality shares are making a big contribution.Buying was also seen in FMCG and financial shares. Action was seen in 29 out of 30 Sensex stocks. Out of 50 shares of Nifty, 49 shares saw a rise and 1 share saw a decline.
| Sensex rising shares |
| Company | Increase |
| Reliance Industries | 3.35% |
| Infosys | 3.01% |
| ICICI Bank | 2.20% |
| TCS | 3.66% |
| ITC | 3.69% |
| L&T | 3.49% |
These seven stocks have helped in improving the mood of the market. He has a big contribution in the rise of Sensex. All these are large cap category shares. These factors helped improve the market environment.
Why did buying return to the stock market?
- buying IT shares: Good buying was seen in IT sares on the back of strong US market data. America has seen the lowest number of jobless claims in seven months, which shows the strength of America’s economy.
- Global Factors: Global factors also created a buying environment in the market. Buying was seen in Asian markets. Japan, Korea, Australia and other countries joined the market.
- On Wednesday, the company of Adani Group was seen getting beaten. When the markets opened on Thursday, Adani Group companies saw recovery from lower levels.
- shopping in government banks: Especially good growth has been seen in SBI shares. Due to all this, there was a buying environment in all the government banks.
- Elections in Maharashtra and Jharkhand: The results of Maharashtra and Jharkhand assembly elections will be declared on 23 November. According to exit polls, there are indications of the return of the Mahayukti alliance. Despite this, there was a buying atmosphere in the market.
- domestic institutional investors: Domestic institutional investors are already buying in the market. For two months, foreign investors have been selling and domestic institutional investors have been buying.
Due to these six reasons, recovery has been seen from lower levels. Now if the results of Maharashtra elections also come as per the exit polls, then it is possible that there will be a buying environment in the market on Monday also.Anyway, all the big market experts are advising buying in the market for the long term. What do you think about it? Let us know by commenting.
