Sensex: Whenever the stock market opens, a new stir and hope shine in the hearts. A similar scene was seen on June 27, when the Indian market once again wrote the story of growth. The midcap and smallcap indices saw a rise of half a per cent, while most sectors were green.
Third wave of the market: Strength in Sensex and Nifty
The country’s major index Sensex, rose 246.31 points today to reach 84,002.18. Nifty also supported the positive investors and closed at 25,632.50 with a gain of 83.50 points. This increase in both indices indicated that the positive sentiment in the market remains strong. About 1,994 stocks remained in the green, while 1,459 stocks saw a decline.
Sensex: The sector boom and shine of important stocks
In the entire market, only the realty sector had to face a slight slowdown today; all other sectors remained in the green. Industries like capital goods, oil and gas, power, and PSU banks saw a rise of about 0.5 to 1 per cent, which created enthusiasm among investors.
In the growing list of Nifty, there were major companies like Jio Financial, IndusInd Bank, Adani Enterprises, Asian Paints and Apollo Hospitals, whose growth gave new energy to the market. Especially Asian Paints showed the highest growth in six weeks and also touched a 52-week high. This performance shows that investors are seeing these companies as leaders.
Strength of the rupee and liquidity control of the RBI
Positive signals were also seen in the foreign exchange market. The rupee showed strength against the US dollar and touched the level of ₹ 85.51 for one dollar, which was stronger than the previous day.
At the same time, the RBI pumped out liquidity of ₹84,975 crore through a 7-day VRRR auction, which will keep the possibility of high interest rates in the banking system and keep investment flow under control.
Global outlook: European markets rise, Dow futures strengthen
Globally, European stock markets were also positive, and the US Dow futures showed strong gains. Investor confidence is being returned globally as well.
IPO, midcap stocks and brokerage watch
Today, the IPO of HDB Financial Services was subscribed 5.36 times on the third day, with QIB 12.68 times, NII, and retail also saw tremendous interest.
The midcap index is rising continuously for the sixth day as well. Midcap stocks like Adani Total Gas, Bharti Hexacom, HINDPETRO and Dixon Technologies showed good momentum, which gave an additional strong support to the market.
Sensex: Future market trend
This positive wave may continue as long as the global economic situation remains stable. The weakness of the dollar, RBI’s policies and foreign investors’ interest in Indian goods are playing an important role in this.
If the rupee remains strong in the future and the global markets stabilise, then this wave in the stock market may continue for some more time.
Disclaimer: All the information given in this article is based on official sources and live market updates. Investing in the stock market may be subject to risk. Consult your financial advisor before taking decisive steps for investment.
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