share marketImage Credit source: File Photo
Leaving behind the fall of last Friday, the stock market saw tremendous growth on Monday. There was an increase of more than one percent in the stock market. BSE closed with a gain of more than 700 points. At the same time, a gain of more than 195 points was seen in Nifty. Due to this boom, stock market investors earned Rs 2.33 lakh crore. Apart from the auto sector in the stock market, there was an atmosphere of recovery in banking stocks. Let us also tell you what are those 6 reasons, due to which there has been a boom in the stock market.
Stock market jump of more than 700 points
The Bombay Stock Exchange’s major index Sensex closed at 61,764.25 points with a jump of more than 700 points. By the way, the Sensex reached close to 62 thousand points during the trading session and also went to 61,854.19 points. According to the data, the Sensex is 1,818.82 points behind its lifetime high. Which can break anytime. On the other hand, Nifty saw an increase of about 195 points and closed at 18,264.40 points. During the trading session, the Nifty also reached the day’s high with 18,286.95 points. On December 1, the Sensex set a lifetime high record of 63,583 points.
Stock market boomed due to these 6 reasons
- Foreign investors have made good purchases in the current financial year, have invested Rs 22,500 crore so far and foreign investors have invested Rs 11,700 crore in the last 7 trading days.
- The effect of the rise in the American stock market has also been seen in the Indian markets. Dow Jones had seen a gain of more than one and a half percent on 6 April. In fact, the job data for April was better than expected.
- Falling crude oil prices is good news for India. Brent has seen a decline of more than 5 percent and WTI more than 7 percent in the last week.
- Quarterly results are getting better than expected, due to which the stock market is getting support. Due to the increase in the growth of financial and auto companies, the shares of companies are rising in the market.
- India’s economic macro outlook is looking better. According to experts, further improvement can be seen in India’s consumption in 2 to 4 quarters. Because of which there is an increase in the shares of companies other than FMCG.
- Due to the recovery in bank shares, there has also been a boom in the stock market. There has been an increase in the shares of IndusInd Bank. Shares of Bajaj Finance and Bajaj Finserv have gained momentum.