Suspense Crime Sach Ka Dam
The domestic stock market, which was facing continuous decline and huge losses, started trading with a strong jump on Monday. The Bombay Stock Exchange index Sensex was trading at 80,404.56 level with a strong gain of 1287.45 points at 9:32 am. Similarly, the National Stock Exchange (NSE) Nifty was seen trading at 24315.75 level with a rocket-like rise of 408.5 points. It is believed that the confidence of investors has increased after the victory of the BJP-led alliance in the Maharashtra assembly elections.
All sectoral indices are in the green.
All sectoral indices are trading in the green at the start of trading. Auto, bank, media, telecom, oil and gas, power, and realty have seen a gain of 1-2 percent. Shriram Finance, M&M, Bharat Electronics, Adani Enterprises, and BPCL were the major gainers on Nifty, while JSW Steel declined. BSE midcap and smallcap indices registered a gain of 1.5 percent. After being under pressure last week, Adani Group stocks strengthened again today.
Buying in select heavyweights like Reliance Industries Limited (RIL), ICICI Bank, HDFC Bank, Larsen & Toubro (L&T), Mahindra & Mahindra (M&M), State Bank of India (SBI), Airtel and Axis Bank pushed the indices higher. The formation of a new government in Maharashtra will have a positive impact on infrastructure, urban development, and manufacturing sectors as per the policies of the government.
The dollar has strengthened.
The US dollar has risen for eight consecutive weeks and hit a two-year high on Friday. Over the past 13 weeks, US funds have accounted for more than 70% of all developed market bond fund flows and nearly 90% of all DM equity fund flows, according to analysts at TD Securities.
