Friday , September 20 2024

Stock Market Closing: Demonetisation of 2000 has no effect on stock market, Sensex jumps over 230

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stock market closing, 22 May 2023: The first trading day of the week was a boom for the Indian stock market. After a flat start in the morning, the Indian stock market closed with gains at the end of the day. After today’s increase, the wealth of investors has increased to Rs 278.77 lakh crore. When the 2000 notes were announced on Saturday, it seemed that the stock market would fall on Monday, but it did not happen and the market gained momentum.

What is the increase today?

On the first trading day of the week, the Indian stock market index Sensex rose 234 points to 61,963.68 points and Nifty rose 100.55 points to close at 18303.95 points. Similarly, the National Stock Exchange’s Nifty also closed at 18,303.95 points with a gain of 100.55 points or 0.55 percent. Last week, the Nifty closed at 18,203.40, down 111.4 points or 0.60 per cent. At one point in today’s trade, it managed to cross the level of 18,335.

IT support companies

Today IT companies have made the biggest contribution to the development of the local market. Today’s top 5 performing companies of the BSE Sensex index belong to this sector. Tech Mahindra was the top gainer with gains of 3.13 per cent, Wipro 2.59 per cent, Infosys 2.16 per cent, TCS 2.12 per cent and HCL Tech 1.73 per cent. Of the 30 Sensex companies, 11 ended with losses, while 19 ended with gains.

pressure on rupee

However, some other factors controlled the market momentum. The Indian currency rupee saw a fall for the fourth consecutive day today. The rupee has depreciated following the weakening of the dollar. This affected the local market. The rupee today declined by 16 paise to close at 82.82 against the dollar.

how did it start?

Today the BSE Sensex opened at 61,579.78, down 150 points or 0.24 per cent. The NSE Nifty opened at 18,201.10, up just 2.3 points or almost flat. Around 1234 scrips advanced, 1055 scrips declined and 159 scrips remained unchanged.