Tremendous boom in the market: Sensex jumped 500 points, Nifty crossed 24,000; There was loot in these two sectors Massive market boom: Sensex surges 500 points, Nifty crosses 24,000; buying frenzy in these two sectors.

Very happy news is coming for investors from Dalal Street today. Due to heavy buying from all sides in the domestic stock market, both the major indices have made huge jumps in the early trading today. On the basis of strong global signals and strong momentum of the Indian economy, the Bombay Stock Exchange index Sensex is trading with a gain of more than 500 points. At the same time, the Nifty of the National Stock Exchange has also continued its amazing rise and has created a new record by crossing the very important and psychological level of 24,000, which has led to a huge increase in the wealth of the investors.

Heavy flood in auto and FMCG stocks, competition among buyers

Automobile and FMCG sectors have played the biggest role in leading today’s record-breaking growth. Expecting increase in demand in rural areas and better performance of companies before the festival season, investors have placed huge bets on the shares of these sectors. Blockbuster buying has been seen since morning in big giants like Maruti Suzuki, Tata Motors, ITC and Hindustan Unilever. This boom in the auto sector is also reflecting the increasing sales of vehicles in different states and local markets of the country and the projections of strong quarterly results.

Support from return of foreign institutional investors and strong domestic sentiments

According to market experts and big brokerage houses, the reason behind this stormy rise is the continuous return of foreign portfolio investors (FPIs) to the Indian market. Along with this, the confidence of Domestic Institutional Investors (DIIs) and retail investors on the Indian economy also remains unwavering. The increasing number of new demat accounts and record SIP inflows in mutual funds, from major metro cities to smaller tier-2 and tier-3 cities of the country, have provided very strong support to the lower levels of the market, due to which every fear of recession has been completely eliminated.

Will Nifty be able to stay above 24,000: Know what the experts’ opinion is for the future

After Nifty crossed the historical level of 24,000, now the question in the mind of every investor is what will be the next target of the market. Leading financial analysts believe that as long as Nifty continues to close strongly above 24,000, the bull run of the market will continue. The market looks very strong even on technical charts. Traders are advised to adopt a buy strategy on every small dip and maintain their focus on good quality large-cap stocks as the market may touch new highs in the coming days.