The domestic stock market started the business well on Monday, maintaining the momentum of last week. Amidst the support from the global market, the BSE Sensex was able to cross 53,300 points with a gain of more than 600 points in early trade on Monday. NSE Nifty also gained more than 170 points in early trade.
The stock market saw a rise from the pre-open session
The domestic market was showing strength in the pre-open session itself. The Sensex was up by 700 points in the pre-open session. Similarly, the Nifty was also increased by more than 150 points in the pre-open session. SGX Nifty in Singapore was also indicating that today could prove to be a good day for the domestic market. At 09:20 am, the Sensex had risen above 53,360 points with a gain of more than 630 points. Nifty was trading near 15,890 points with a gain of more than 190 points.
Last week stock market saw a growth by
Earlier, on Friday last week, the Sensex had strengthened by 462.26 points (0.88 per cent) and closed at 52,727.98 points. Nifty was up by 142.60 points (0.92 per cent) at 15,699.25. Last week, the Sensex and Nifty had gained about 3 per cent. After the selling phase that started in November last year, there have been few such occasions when the market has shown an uptrend on a weekly basis.
Support from the global stock market
Today there is a bullish trend in the global market as well. On Friday, the last day of last week, the Dow Jones Industrial Average was in the strength of 2.68 per cent. Tech-focused index Nasdaq Composite was up 3.34 per cent and the S&P 500 (S&P 500) was up 3.06 per cent. Today the Asian markets are seeing coming up. Japan’s Nikkei is trading in a gain of 1.31 per cent. Hong Kong’s Hang Seng is up 2.96 per cent and China’s Shanghai Composite is up 0.88 per cent.