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The results of assembly elections in Jammu Kashmir and Haryana will be declared today. At present the counting of votes is going on. The Congress led alliance is moving ahead in Jammu and Kashmir. Whereas in Haryana, there is a contest between BJP and Congress. The effect of which is visible on the stock market. After opening with a boom, the market is seeing ups and downs as soon as it opens. However, at present the market is trading with strong data. So let us know whether the recovery seen in the market today is a bullish trailer or just an illusion. let's find out
Millions of investors drowned
At present the market is bullish but before this both Sensex and Nifty were seen trading in loss for 6 consecutive trading sessions. The result was that investors lost crores of rupees. There has been a loss of Rs 25 lakh crore in these 6 days. The main reason behind this is that foreign investors withdrew money from the Indian market. Before this sale in the market i.e. in the month of September, he had made a record by investing more than Rs 57 thousand crore in the stock market.
How much did the Indian stock market fall?
If media reports are to be believed, China is considered to be the main reason for this. China has announced a relief package to boost its economy. Due to this, the trend of foreign investors has increased towards China. First of all, if we talk about the Indian stock market, on Monday a fall of 638 points was seen in the Sensex and the index closed at 81,050 points. Nifty also saw a fall of 218 points and closed at 24,795.75 points. It is noteworthy that since September 26, the Sensex has fallen by about 4,800 points. Along with this, Nifty also fell by about 1,400 points. According to media reports, global brokerage firm CLSA has reduced its investment in the Indian stock market. Whereas it has increased the amount of its investment in China. According to global brokerage firms, the Indian stock market is witnessing a decline due to three reasons.
These reasons may be responsible
- The first reason is the increase in crude oil prices. An increase of more than 10 percent has been seen in the month of October.
- The second reason is the boom in IPOs.
- The last reason is the increasing trend of retail investors towards the stock market.
So will the market rise?
Regarding the boom seen in the market, experts say that there is still an overall positive environment in the market. In such a situation, no major decline is being seen in the market. The market has been going in stable mode for some time now. Because hedge funds book their profits in November and December and will do the same this year. In such a situation, a slight decline may be seen in the market. But in the meantime domestic and FII will invest money so the recovery will be normal. So overall the market will be successful in breaking the life time high level and due to the positive sentiment of the market, foreign investors will also invest money.