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Today was a great trading day for the Indian stock market and brought happiness on the faces of investors. The momentum that the market gained after the initial ups and downs brightened Dalal Street till the closing hours. Bombay Stock Exchange’s main index Sensex closed today with a big and strong jump of 380 points. On the other hand, Nifty of National Stock Exchange also stood at a very important and strong level of 23,523 due to the strong performance of the bulls. Market analysts believe that the reason behind this tremendous rise is not only the unwavering confidence of domestic investors, but also the positive environment created in the market regarding the upcoming trade deal between India and America on the global front is proving to be the biggest game changer.
All-round buying seen in IT and banking shares, investors’ silver
In today’s business, the biggest shine was seen in the stocks of IT, banking and realty sectors. After some lull in the morning session, as soon as buying in shares of big companies started, the market trend completely changed. Many big heavyweight stocks included in the top gainers of Nifty played a major role in pulling the market higher. Market experts said expectations of better corporate performance in the current financial year and strong domestic economic data led to short covering, which helped the indices close near the day’s highs. Due to this boom, today an increase of thousands of crores of rupees has been recorded in the wealth of investors.
Will the mega deal between India and America change the fortunes of the market?
At present, the eyes of investors on Dalal Street as well as across the world are fixed on the possible trade deal between India and America (India-US). According to economic experts, if this deal turns out to be as positive as expected, it will greatly benefit many major sectors of India like IT, Pharma and Textiles and may bring a flood of Foreign Investment (FDI) in the country. Foreign institutional investors are also eagerly waiting for the blueprint of this megadeal. This is the reason why even before the deal dates approach, the market has started welcoming it in advance and traders are showing great interest in making new deals.
Know what is the opinion of market experts for tomorrow and which levels to keep an eye on
After the market closed above 23,500 today, the path ahead has become even more interesting. Technical analysts say that the way Nifty has closed today has opened the way for it to touch the levels of 23,700 and 24,000 in the coming days. However, investors have also been advised to be a little cautious in tomorrow’s trading session, because slight profit booking may be seen at higher levels. Investors are advised to keep a close eye on every small and big update related to the India-US trade deal and in case of any major fall, adopt the strategy of gradually buying good quality shares.
