Friday, February 23rd, 2024

There was an outcry in the stock market on the last trading day of the week! Investors lost crores of rupees as the market closed

Photo:India TV Investors lost crores of rupees as the market closed

The stock market was seen trading in the Red Zone on the last trading day of the week. The Sensex lost 229 points to close its business at 60,628 points, while the Nifty fell by 86 points to 18,972 points.

Investors lost crores of rupees as the market closed

Image Source: BSE

Investors lost crores of rupees as the market closed

The market continues to decline since morning

Let me tell you, this morning the stock market opened in the red mark. Sensex started trading down 43.88 points at 60,814.55 and Nifty fell 24.40 points at 18,083.45. Slow pace has also been seen in the global market. The US market closed down for the third consecutive day on fears of a recession. Its effect has also been seen on the Indian market today. Let us tell you that on Thursday, How Jones has closed by breaking 252 points. Today investors will keep an eye on the shares of Reliance Industries. Today the quarterly results of Reliance Industries will come. Out of 30 stocks included in the Sensex, 19 stocks gained and 11 declined. Banking, IT and FMCG stocks declined in early trade.

This is how you can make money before the budget

If you are a stock market investor then you have a great chance to earn in the month of January. In fact, the data showed that in the last six out of the last 10 budgets, there was a stupendous rally in the market in the month preceding the presentation of the budget. Citing market data, the report said in 2016, the BSE Sensex recovered sharply by 7.5 per cent in the one-month run-up to the Budget. The BSE Sensex performed well in the month ahead of the Union Budget for 2017 and 2018, gaining 5.7 per cent and 6.2 per cent, according to the data. Similarly, the benchmark sees an increase of 1.5 per cent in 2021 and 0.6 per cent in 2019. In 2022, the BSE benchmark was up 4.4 per cent.

The decline was seen before these budgets

On the other hand, if we talk about the declining years, in 2013 the benchmark Sensex fell by 6.2 per cent, while in 2012 it fell by 3.8 per cent. In 2020 also it declined by 3.8 percent. In 2014, the benchmark was down 0.8 percent and 0.7 percent in 2015. With the Union Budget 2023-24 just a few days away, there is a possibility that BSE benchmarks may witness volatility due to expectations of a rate hike by the US Federal Reserve. Also, with the geopolitical situation still volatile due to the ongoing Russia-Ukraine war, markets may show a bullish trend in the run-up to the budget. In this scenario, it needs to be seen how the overall trend unfolds during this month.

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