Due to this reason the stock market continues to rise, the index reached a record high
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The balance sheet and earnings of domestic companies have become stronger than before and the FII stance has supported the market. Investors should continue their SIP. Under this, maintain your investment for a period of 3-5 years. Those who have to time the market can make 20-25% profit. That is, do some profit booking, but remain a medium and long term investor and buy on dips.
Because of this the momentum remains
The Indian stock market is continuously making new highs. Sensex and Nifty once again made a new record high on Monday due to the continued strength in the market due to good signals in the domestic economy, rise in global markets and continuation of foreign fund inflow. Where the Sensex closed after crossing the 65,000 mark for the first time. On the other hand, Nifty closed above 19,300 and made a new record. This was the third consecutive trading day when both the indices closed at record highs.
The Sensex jumped 486.49 points to close at an all-time high of 65,205.05. During trading, at one stage it had climbed 581.79 points to reach a record 65,300.35. Nifty also closed at a record 19,322.55 points with a gain of 133.50 points. During trading, it had jumped 156.05 points to reach an all-time high of 19,345.10 points. Reliance Industries was the top gainer of 2.53% in Sensex stocks. South Korea’s Cospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hangseng remained in profit in other Asian markets. Europe’s major markets had a bullish trend in early trade. US markets were in gains on Friday.
How will the market move
Vinod Nair, Head of Research, Geojit Financial Services said, “Investor sentiments are upbeat on positive domestic data and global cues. The global market got support from strong economic data and fears of recession were removed. India’s stock market trend is broader. This is the reason for the better performance of the metal, financial and FMCG sectors. Good signs in the domestic economy such as the news of GST collection increasing by 12% to Rs 1.61 lakh crore in June also made a good impact.
According to Naveen Kulkarni, CIO, Axis Securities, growth in the Indian stock market will continue in the long term. The expansion in capex will improve the credit growth of banks and sustain the growth momentum of the Indian economy amidst the ups and downs of the global economy.
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