Sensex closed 934 points higher at 52532

Today, the Indian stock market is seeing a boom for the second consecutive day. Sensex-Nifty bounced back from low buying. Strong global cues and positive outlook from market analysts played a key role in the market’s recovery. Today the BSE benchmark Sensex rose over 1000 points to cross 52300. Which finally closed at 52532 with […]
 


Sensex closed 934 points higher at 52532

Today, the Indian stock market is seeing a boom for the second consecutive day. Sensex-Nifty bounced back from low buying. Strong global cues and positive outlook from market analysts played a key role in the market’s recovery. Today the BSE benchmark Sensex rose over 1000 points to cross 52300. Which finally closed at 52532 with a gain of 934 points. On NSE, Nifty closed at 15631 with a gain of 281 points.

So these are the four reasons behind the boom in the market

cheap valuation of shares

The stock market has been falling for the past few months. All quality stocks are getting cheaper. Investors have been watching the market for a long time. One of the main reasons for today’s rally in the market is less buying. Right now all the analysts are advising to buy in good stocks that are getting cheaper.

Bullish Commentary

The market is in bearish mood for the last few days and the market has come down significantly. There was a selling atmosphere all around. Meanwhile, there are signs that sentiment in the equity market is improving. Now the selling pressure has eased slightly, indicating an emerging buying signal in the market.

good global signal

Asian markets are bullish today. After the rise of 2 percent in European markets on Monday, Asian markets are also seeing a rise today. On Tuesday, there is a glow on Dalal Street. Looking at the Asian markets, Japan’s Nikkei rose 2 per cent, while Hong Kong’s Hang Seng rose nearly 2 per cent. Similarly, equity indices of South Korea, Taiwan, Indonesia and Thailand appeared in the green zone.

Crude oil prices soften

The fourth reason for the rise in the Indian stock market is the fall in crude oil prices. Brent crude has fallen nearly 9 percent in the last one week. Crude oil is an important raw material for all companies. Fall in crude oil prices means increase in margins of these companies. According to global research analysts, support for crude oil prices on MCX is around Rs 7,200-7,600. So resistance appears at the top at Rs 9500-10000. On NYMEX, crude oil is seen close to support 96 96-92. Whereas resistance 6 appears at 116-125.