Stock market doubles in 10 months, Sensex creates history – crossed the Maggi figure of 50000
The Sensex has crossed the 50000 level for the first time today, making a historical record. It was only 10 months ago when the government imposed a lockdown in March last year to stop the spread of coronavirus in the country and its direct impact was seen on the stock market. The BSE Sensex also came down to 26000. The Sensex set a 10 per cent lower circuit and the business was halted for 45 minutes. However, the stock market continued to sell even after the business resumed. This happened for the second time in ten business days. Earlier on January 13, the Nifty had a lower circuit. Now almost 10 months later, the stock market has doubled compared to March.
Sensex was below 26000 in March
The Sensex closed down 3,935 points and 13 percent at 25,981 in March last year and all the shares closed at the red marker. The NSE Nifty slipped 1,135 points to end at 7,610, down 13 per cent. Ten months later today, on 21 January 2021, shares of Reliance Industries, Bajaj Finance, ICICI Bank rose sharply by over 300 points for the first time on Thursday, with the Sensex gaining 300 points in point trading. Market sentiment was also strengthened by positive global trend.
These five reasons brought tremendous momentum
1. Investors tightened on big companies before the budget.
2. Improved results from companies in the December quarter boosted confidence. At the same time € against the dollar is also strengthening.
3. A positive atmosphere is being created in the market since the introduction of Corona vaccine.
4. Issue of investment in the Indian market by foreign investors. The total investment till January 18 in January stood at 17,437 crores.
5. The Chinese market recorded a spectacular growth due to the strong recovery in the Chinese economy.
Today these stocks rose
The 30-share Sensex business of BSE reached its all-time high of 50,126.73 points. It later trades at 50,092.21 points, an increase of 300.09 points or 0.60 percent. The National Stock Exchange’s Nifty gained 85.40 points or 0.58 percent to 14,730.10 points. Earlier, the Nifty had also reached its all-time high of 14,738.30. Among the Sensex companies, Bajaj Finserv’s share rose the most by almost four percent. The shares of Bajaj Finance, Reliance Industries, IndusInd Bank and Axis Bank were also profitable. On the other hand, TCS, HDFC Bank and HDFC shares were trading at a loss.
Stock market: Sensex opened beyond 50000 for the first time, Nifty trading at 14730