Today, on the last trading day of the week, the stock market closed on a steep decline after day-long fluctuations. This is the fourth consecutive trading day of decline. The Bombay Stock Exchange’s flagship index Sensex closed down 434.93 points (0.85 percent) at 50889.76. At the same time, the National Stock Exchange’s Nifty closed at 14981.75, down 137.20 points, or 0.91 percent.
It may be known that the domestic stock market was trading at a record level for the last several days, but now the profit recovery started. Investors made profits by selling shares at high prices. The stock market continued its rally last week. The Sensex had gained 812.67 points, or 1.60 percent, in the previous week.
SBI shares can go up to Rs 600
State Bank of India (SBI), the largest bank in the country, can go up to Rs 600. In terms of market capitalization, it may outstrip Kotak Mahindra Bank. Its stock has risen by more than 50 per cent in a month. Income It closed at the level of 399.35. According to a report by Morgan Stanley, the stock could go up to Rs 600 as it can be re-rated once the country’s economic conditions improve. It is the third bank in the top 10 in terms of market capitalization. HDFC Bank in the first place and Kotak Mahindra Bank in the second place.
Such was the situation of veteran shares
Talking about the big stocks, the shares of GAIL, UPL, Dr. Reddy, Hindusthan Unilever and IndusInd Bank closed on the green mark today. ONGC, Tata Steel, Hero MotoCorp, Tata Motors and SBI closed the red mark.
Sectoral index tracking
If we look at the sectoral index, then all the sectors closed on the red mark. These include PSU Bank, Metal, IT, Auto, Media, Realty, Pharma, FMCG, Banks, Finance Services and Private Banks.
Today the market was opened on a slight decline
It was down 222.82 points (0.43 per cent) in early trade to open at 51,101.87. The Nifty was down 64.50 points, or 0.43 per cent, at 15,054.50.
Market closed on Thursday on decline
The stock market closed on the red mark on Thursday after day-long fluctuations. This was the third consecutive trading day of decline. The Sensex was down 379.14 points (0.73 percent) at 51324.69. The Nifty closed at 15118.95 with a fall of 89.95 points, or 0.59 per cent.