Today, on the first trading day of the week i.e. Monday, the stock market closed on the red mark after day-long fluctuations. The Bombay Stock Exchange's flagship index Sensex closed down 470.40 points, or 0.96 percent, at 48564.27. At the same time, the National Stock Exchange's Nifty fell by 152.40 points (1.06 percent) to close at 14281.30.
Investors are worried about an investment before the Union Budget because according to most market analysts, due to Corona, this time budget will not be as expected. Hence the market continues to fluctuate. Binod Modi, strategy head of Reliance Securities, said that at present, domestic markets are not looking encouraging. Last week, the 30-share BSE Sensex gained 252.16 points or 0.51 percent. The National Stock Exchange's Nifty climbed 86.45 points or 0.60 percent.
These factors will decide the direction of the stock market this week
The direction of the stock markets will be determined by the quarterly results of companies and global developments this week. Analysts say the market may fluctuate before the upcoming general budget. Apart from this, the investors will be watching the developments related to Kovid-19, especially the vaccination campaign in the country. Quarterly results of Bank of Maharashtra, Bajaj Finance, Federal Bank, Asian Paints, Bajaj Auto, and Reliance Industries are due this week. Domestic markets will be focused on the banking and financial sector this week amid a weak trend in global markets. Traders said that after the introduction of vaccination in the country, there can be a lot of changes in the share prices.
State of global markets
Japan's Nikkei index is trading down 0.85 percent in Asian markets. The Kospi index of South Korea is trading at 0.90 percent. However, China's Shanghai Composite Index and Hong Kong's Hang Seng Index are trading up by 0.41 percent. Earlier, European and American markets closed down.
Such was the situation of veteran shares
Talking about the big stocks, shares of UPL, Reliance, Titan, HDFC Bank, and Eicher Motors closed on the green mark today. Tata Motors, Tata Steel, ONGC, Hindalco, and JSW Steel closed at the red mark.
ITC shares reached an 11-month high
During the trading today, shares of the legendary FMCG company ITC (ITC) rose today and reached Rs 221 on BSE, its 11-month high. However, it finally closed at 219.55. ITC shares have gained 10 percent in the last week.
Sectoral index tracking
If we look at the sectoral index, then all the sectors closed on the red mark. These include FMCG, PSU Bank, Pharma, Auto, IT, Bank, Media, Private Bank, Metal, Realty, and Finance Services.
Continued pickup in the market in 2020
The year 2020 was a big development for the stock markets. In March 2020, the coronavirus epidemic hit India. The coronavirus also did not leave the stock market untouched. The domestic market fluctuated. While the stock market went bust in March, the Sensex-Nifty recovered the entire loss in 2020 at the end of the year.
The market was open on the decline
The domestic stock market was open on a decline today amid mixed global cues. In early trade, the Sensex opened at a level of 48,977.86 with a weakness of 56.81 points (0.12 percent). At the same time, the Nifty started by 21.70 points, or 0.15 percent, at the level of 14,412.
The market closed on the red mark on Friday
The stock market closed on the red mark after a day's ups and downs on Friday. The Sensex was down 549.49 points, or 1.11 percent, to close at 49034.67. At the same time, the Nifty was down by 161.90 points (1.11 percent) to close at the level of 14433.70.