The Indian stock market closed in the green mark on the first day of the week with good momentum. The benchmark indices BSE Sensex and NSE Nifty were up around 0.7% at the close of the market. It was also the fourth consecutive day in the stock market. Most of the metal stocks rose. Let’s see what was important in the market on Monday-
With the boom, the Sensex has reached above 49,500. At the same time, the Nifty 50 index was also close to 14,950 at the time of closing the market.
10 May Business Highlights
The BSE Sensex gained 296 points, while the NSE Nifty 50 index gained 119 points.
At the time of closing the stock market, 5 out of 30 stocks of the Sensex pack remained in the red mark. The Nifty pack gained 38 shares in 50.
In the Nifty Pack, shares of UPL, Hindalco, Wipro, Tata Steel, Sun Pharma, Divis Labs, Bajaj Finserv, Grasim and JSW Steel made their 52-week peak.
The Nifty Smallcap 100 and Nifty Midcap 100 indices closed in the opposite direction on 7 May. The midcap index weakened by 0.94% while the smallcap index gained 1.53%.
The Volatility Index (VIX) is down 2.88% to 20.22.
Open – 14,928.25
Close – 14,942.35
Variation – (+ 0.80%)
High – 14,966.90
Close – 49,502.41
Variation – (+ 0.60%)
What is the reason for the strength in the market?
For the fourth consecutive day in the market, the good signs of the foreign stock market played an important role in the hold of the bulls. In the economy of the RBI last week, the announcements made to maintain liquidity have been affected. With the continuous bounce, the market has now reached its previous valuation. Investors are also happy with the fourth quarter results. Despite the increasing cases of Corona, the absence of a nationwide lockdown also gives investors some relief. Recently, some states have also seen a decrease in Kovid cases.
Which sector did how well?
On the first day of the week, all the sector-based indices of the Nifty closed in the green stock market . The Nifty Metal Index gained the most by 3.14%. It had also strengthened by over 4.5% in the past day. Strongness in the pharma sector was also around 3%. At the same time, the boom in the Nifty Auto and Energy sectors was around 1.5%. The Bank, Reality and Financial Services index closed up around 0.75%. Apart from this, FMCG gained 0.24% while IT index gained 0.02%.
Nifty-50 shares seen the fastest in these stocks
Coal India (+ 7.45%)
UPL (+ 7.18%)
Hindalco (+ 6.15%)
IOC (+ 4.70%)
Tata Motors (+ 4.00%)
These shares of Nifty-50 are broken.
Shree Cement (-1.90%)
Ultratech Cement (-1.22%)
Hero MotoCorp (-0.86%)
Stocks that remain most active
According to Value, Tata Steel, Hindalco, and Tata Motors were the three most active stocks in the Nifty. At the same time, according to the volume, the stock market of Tata Steel, Coal India, and SBI dominated.
What is the signal for next
The constantly growing Corona cases can be a worry for the market. Investors will also be watching the fourth quarter results for the next few days. Investors should trade with caution.