The Start Of Business In The Stock Market Was Good

The start of business in the stock market was good on Wednesday as well. A good start in the stock market today, these stocks including Titan rise. 

Sensex opened at 52912 points with a gain of 130 points. On Tuesday, the main index of BSE had crossed the level of 53000.

More than a dozen stocks including Titan, Tata Steel was above the green mark. At the same time, NSE Nifty 50 was also trading 15 points higher at 15787 points.

Earlier, the BSE Sensex closed steady on Tuesday with a marginal gain of 14 points. The benchmark index had once crossed the 53,000-mark.

But profit-booking by investors at higher levels could not sustain the huge gains. According to traders, the fall in the rupee’s exchange rate also weighed on the sentiment.

The 30-share BSE Sensex had at one point reached an all-time high of 53,057.11 points during trading.

But later it came down on profit-booking and finally closed at 52,588.71 with a marginal gain of 14.25 points or 0.03 percent.

The Nifty of the National Stock Exchange also closed at 15,772.75, up 26.25 points, or 0.17 points, slightly.

The start of business in the stock market was good: Maruti accelerates.

The biggest gain of more than 5.25 percent in the Sensex shares was in Maruti’s stock. On Monday it had fallen the most.

Besides, L&T, Ultratrak Cement, TCAS, Titan, Tata Steel, and Bajaj Auto were also the gainers, up up to 2.20 percent.

On the other hand, Asian Paints, Bajaj Finance, Nestle India, HUL, IndusInd Bank, and Sun Pharma were among others with losses up to 1.91 percent.

S Ranganathan, Head of Research, LKP Securities said the market was open on a firm footing with a positive global trend and pick-up in vaccinations.

The stocks which saw sharp movements were related to the opening of the market after the easing of the lockdown.

He said that the market had crossed the 53,000 marks but there was all-around profit-booking in the afternoon trade.

Vinod Nair, Head of Research, Geojit Financial Services said that the domestic market witnessed a good rally in early trade.

This was due to a firming up in Western markets, where the focus has now shifted to economic recovery rather than concerns about the Federal Reserve’s monetary policy changes.

He said that however, profits were made after the major indices hit the highest levels.

The reduction in the rate of Covid infection and rapid economic revival in vaccination has raised hopes, which has had an impact on the market.