Share Market Opened With Massive 370 Points Increase
Share Market opened with a massive 370 points increase on Friday, the last day of the week. Sensex-Nifty rose again rapidly, these stocks shine from the beginning.
The 30-share Sensex market reached 49,318 points as soon as it opened. Bajaj Auto, Techm, and Powergrid were the major losers. But the remaining 27 stocks gained momentum.
Similarly, the Nifty 50 also rose by about 120 points to 14845. The market is seeing such a boom for the third consecutive day.
The announcement has given a new air to the market, first regarding RBI and then America’s Covid Vaccine.
Earlier on Thursday, the market rose for the second consecutive day. The market was strengthened mainly due to good buying in the stocks of Auto, Finance, and IT companies.
Investors took to the US government’s decision to support the proposal to exempt Covid 19 vaccines from intellectual property rights. This may accelerate the Vaccination Campaign in India and other emerging countries.
Sensex was closed at 48,949.76
BSE Sensex was up 272.21 points, or 0.56 percent, to close at 48,949.76, based on 30 shares. Business fluctuated and the Sensex went up to 49,011.31 and down to 48,614.11.
Similarly, the National Stock Exchange’s Nifty gained 106.95 points, or 0.73 percent, to close at 14,724.80.
These shares rose including Bajaj Auto.
Bajaj Auto, HDFC, Infosys, Tech Mahindra, Nestle India, Maruti, and Titan were the other gainers in the Sensex shares. It was up by 2.61 percent.
On the other hand, the declining stocks include Power Grid, ONGC, Bajaj Finserv, IndusInd Bank, NTPC, and Sun Pharma. It fell by up to 1.24 percent. Sensex shares gained 20 gains.
VK Vijayakumar, the chief investment strategist at Geojit Financial Services, said, “There is both positive and negative news in the market.”
US President Joe Biden’s decision to support the proposal to exempt intellectual property rights regarding vaccines is quite positive.
This will accelerate the vaccination process and help countries like India deal with the epidemic faster. ”
On the other hand, cases of infection have increased again after five days. Lockdown and restrictions are increasing, this will affect growth.
