Friday, February 23rd, 2024

Nifty crosses 20 thousand, market cap of companies listed on BSE is 4,000 billion dollars, know what next

Photo:PTI indian stock market

indian stock market A tremendous rise was seen on Wednesday. Due to this, Nifty crossed the 20,000 mark for the first time in two months. At the same time, the combined market capitalization of all the companies listed on BSE reached the level of US $ 4,000 billion for the first time. Let us tell you that on Wednesday, Nifty rose by 206.90 points or 1.04 percent and closed at 20,096.60, while BSE Sensex rose by 727.70 points or 1.10 percent and closed at 66,901.91. Now if you are a stock market investor then this question will definitely come in your mind that how will the market move in future? Why did the market rise so much? Let us know.

That’s why tremendous momentum returned in the market

Sandeep Jain, director of broking firm Tradeswift and veteran market expert, said that it is historic for the market cap of companies listed on BSE to reach the level of US $ 4,000 billion. Now the Indian stock market has become the fifth largest market in the world. This is an achievement which is built on the confidence of domestic investors on the stock market. Due to the improving global environment, the interest of foreign investors has increased again. Foreign investors have been continuously investing money for the last 5 days. Due to this the market has made a new high. The strength of the Indian market can be gauged from the fact that even when there was a tremendous rise in crude, bond yields were at the highest level and the dollar was making new records every day, there was no decline in the market.

Now that the situation has improved, tremendous momentum has returned. As of now, heavyweights like Reliance, HDFC Bank, ICICI have not contributed. When this is done, the market will reach new heights. The flow of Rs 3.5 crore in the IPO market shows the attitude of retail investors towards the Indian market. The continuously increasing funds in mutual funds is also testifying to this. That’s why long-term investors own silver. Money will be made and a lot of money will be made.

Boosted the market in IPO market also

This was driven by strong ongoing IPO listings and statements from US Fed officials, which raised initial expectations. Vinod Nair, Head of Research, Geojit Financial Services has said this. Most of the Adani Group companies were in the green on Wednesday. This was due to the Supreme Court reserving judgment on claims of stock manipulation and fraud by US short-sellers, Vidwani said. Hero MotoCorp, M&M, Axis Bank, Wipro and Tata Motors were the top gainers on the Nifty, while ONGC, Nestle India, Eicher Motors, Adani Enterprises and Divis Lab were the top losers.

Input: IANS

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