The Indian stock market has welcomed good GDP figures. On Monday, the first trading day of the week, the Indian stock market showed a tremendous boom. The Bombay Stock Exchange Sensex opened 648 points higher at 49,747.71 and rose by 959 points to reach 50,058.42 around 10.45 am. The Sensex ended with a gain of 749.85 points at 49,849.84 at the end of trading.
Similarly, the National Stock Exchange’s Nifty opened with a gain of 173 points at 14,702.50 and gained 277 points to reach 14,806.80 around 10.45 am. The Nifty closed at 14,761.55 with a gain of 232.40 points at the end of trading. The stock market is booming due to better GDP figures and positive international signals.
Growth in sector indices
Apart from the PSU bank index, all other sectors were seen in the green mark. The Nifty Auto, Energy and Metal indices saw gains of 2-2 per cent. The BSE Midcap and Smallcap index saw gains of 1.5-1.5 per cent. India’s GDP grew by 0.4 percent in the December quarter. That is, the Indian economy has come out of recession.
Power Grid Corporation, Hero MotoCorp, UPL, ONGC etc. were among the stocks that rose in the Nifty.
Bharti Airtel stocks fell more than 4%. In fact, Integrated Core Strategies Asia Pte Company sold around 37 million shares of the company, due to which the stock of the company has seen such a huge decline today. Stocks of Bharti Airtel lost 4.22% to close at Rs 532.80 today. Whereas today its stocks were opened at Rs 558.
Today, the Indian rupee is seen sliding against the US dollar in early trade. The rupee opened 31 paise down at 73.77 against the dollar in the morning. The rupee finally closed at 73.55. The rupee had closed at 73.46 on Friday.
There was a huge drop in the market on Friday
The stock market remained underwhelming on the last day of last week due to weak international signals. The Bombay Stock Exchange Sensex opened 783 points lower at 50,256.71 in the morning. Later this decline of the stock market continued.
The Sensex dropped by a massive 1848 points to 49,191.12 around 12:40 pm on the news of the Syria bombing by the US. The Sensex ended 1939.32 points down at 49,099.99 at the end of trading. Just before the close, the Sensex broke down by 2149 points to reach 48,890.
Similarly, the National Stock Exchange’s Nifty opened 209 points down at 14,888 and around noon the Nifty fell 485 points to 14,612. The Nifty closed at 14,529.15, down by 568.20 points at the end of trading.