Stock market opens with gains, Sensex up 300 points; Nifty above 13,850

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Stock market opens with gains, Sensex up 300 points; Nifty above 13,850.

On Thursday, the domestic stock market closed with a lead for the third consecutive session. Shares of companies from banking finance and pharma sectors were sold. The BSE 30-share index closed with a gain of 529.36 points, or 1.14%, at the level of 46973.54.

Today opened the stock market on Monday, the first trading day of the week. Bombay Stock Exchange’s major index Sensex gained 180.05 points to open at 47,153.59. At the same time, the Nifty also started with a green mark. The market is getting good support in bank, auto and metal stocks. Currently the Sensex is about 300 points strong and is trading at 47284 levels. The market was closed on Friday for Christmas. Global markets including Asia, Europe and Wall Street remained closed on Friday due to Christmas.

On Thursday, the domestic stock market closed with a lead for the third consecutive session. Shares of companies from banking, finance and pharma sectors were sold. The BSE 30-share index closed with a gain of 529.36 points, or 1.14%, at the level of 46,973.54 points. Similarly, NSE Nifty closed at the level of 13,749.25 points with a rise of 148.15 points i.e. 1.09 percent. Most of the sectoral indices closed with green marks. However, there was a sell-off in the shares of IT companies.

On Thursday, the rupee rose 14 paise to 73.62 per dollar in early trade against the US dollar due to a strong opening in the domestic stock markets and continued foreign exchange flows. The gap between the flow of investment by foreign institutional investors and the uptrend in the domestic stock market on Thursday rose 21 paise to close at 73.76 55 against the US dollar.

On Thursday, gold rose by Rs 385 to Rs 49,624 per ten grams in the bullion market. Earlier on Wednesday, gold had closed at Rs 49,239 per ten grams. Silver also rose by Rs 1,102 to Rs 66,954 per kg. The previous day it had closed at Rs 65,852 per kg.

Ajit Menon, CEO, PGIM India Mutual Fund said that in terms of the year 2022-23, there have been many positive things for the economy and the market. Central banks around the world have understood the setback caused by Kovid to the real economy and especially small and medium businesses. They have not only dumped huge cash, but have also promised that they will keep rates low in the near future. This will increase the demand for risky assets and will see the growth of global investors in emerging markets like India.

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