After closing at a record level in the previous session, the stock market started at the highest level on Thursday, the fourth trading day of the week. The Bombay Stock Exchange’s flagship index Sensex opened up 68.14 points (0.13 per cent) at 54,437.91. The Nifty of the National Stock Exchange opened at 16,272.60 with a gain of 13.80 points (0.08 per cent). Last week, the 30-share BSE Sensex fell 388.96 points or 0.73 per cent. In early trade, 1245 shares rose, 784 shares declined and 85 shares remained unchanged.
Expectations of recovery in the economy have increased. The market has got support from the improving macro economy data. GST collection in July 2021 increased to Rs 1.16 lakh crore. Core sector output grew 8.9 per cent year-on-year in June. The better financial results of the companies have also had a positive impact on the domestic market. Apart from this, India’s export figure has also improved on a yearly basis. Domestic institutional investors have infused Rs 280 billion in the first four months of the current financial year. Because of this, the market has been seeing a boom for some time now. According to analysts, the decision of the Reserve Bank of India (RBI) on interest rates will decide the direction of the stock market. Also, the global trend and vaccination will also affect the market.
Talking about the big stocks, during early trading today Tech Mahindra, Bharti Airtel, Asian Paints, Nestle India, Reliance, Ultratech Cement, Hindustan Unilever, Sun Pharma, Kotak Bank, HDFC Bank, Dr Reddy, L & T, Infosys, Power Grid, Tata Steel, Bajaj Finserv, Axis Bank, TCS andShares of Bajaj Auto opened on the green mark.On the other hand, the shares of SBI, HCL Tech, M&M, HDFC, Bajaj Finance, ITC, Titan, ICICI Bank, NTPC Maruti and IndusInd Bank opened on the red mark.
This was the condition of the stock market during the pre-open
During the pre-open, the Sensex was up 245.86 points (0.45 per cent) at the level of 54615.63 at 9.02 am. While the Nifty was up 31.70 points (0.19 per cent) at 16290.50.
Market capitalization of six of the top 10 companies of Sensex decreased
Last week, the market capitalization of six of the top 10 Sensex companies lost a total of Rs 96,642.51 crore. Mukesh Ambani-led Reliance Industries suffered the most. Reliance ranks first among the top 10 companies in terms of market capitalization. It is followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, HDFC, SBI, Bajaj Finance and Kotak Mahindra bank respectively.
