The stock market closed in the green for the fourth consecutive trading session. Nifty strengthened by 3 points and closed at 25879 and Sensex strengthened by 12 points and closed at 84478. This morning Nifty opened at 25906 and in intraday it made a high of 26010 and low of 25808. Tomorrow is the last session of the week and the results of Bihar assembly elections will also come. NDA government seems to be formed in exit polls. In such a situation, whether the result remains in line with this or not will be very important. Today, in the top-30 of Sensex, 11 shares closed in the green mark and 19 shares closed in the red mark. Asian Paints was the top gainer with a rise of 1.45 percent. Apart from this, there was a rise in ICICI Bank and Power Grid also. At the same time, ETERNAL was the top loser and it declined by four and a half percent and closed at Rs 297. Talking about sectoral indices, IT, FMCG, Auto and PSU Bank indices witnessed the biggest decline.
How did the market open this morning?
The market continued its upward trend and today Nifty opened with a slight rise above 25900. Nifty opened 30 points stronger at 25906, Sensex opened 59 points stronger at 84525. Bank Nifty fell by 115 points and opened at 58158. Let us tell you that the rise has been going on since the last three sessions. On Wednesday, Nifty strengthened by 180 points and closed at 25875. However, in early trading it has again come in the range of 25850. Profit booking cannot be ruled out in the market at this time. However, the short term trend remains positive.
Important factors for the market
There are many factors behind the rise in the market. The US market is at a life high amid expectations of the shutdown ending. The results of Bihar Assembly elections will come tomorrow and at present NDA government is seen forming in all the exit polls. However, if the results are not favorable on Friday, the market sentiment will weaken. The selling of FIIs has reduced and the buying of DIIs continues. Q2 results have been decent and it is in its final stages. Inflation is at its lowest level in many years.
Stocks showing action based on results
On Wednesday, results of big companies like Pfizer, Mamaearth, Asian Paints, Tata Steel, Ashok Leyland, HAL were announced. Strong action is being seen in these stocks today. Today the results of companies like Alkem Lab, Bharat Dynamics, Hero Motocorp, NBCC, PG Electroplast, Voltas, GMR Airports will be declared. In such a situation, you can focus on these stocks today.
Where is the pressure visible in the market?
Talking about sectoral indices, pressure is being seen on FMCG and IT indices. At the same time, indices like metal and realty are showing strength. Among the top-30 Sensex stocks, Asian Paints, Tata Steel, Bajaj Finserv and ICICI Bank are the top gainers and are up up to 2.5%. On the other hand, there is a decline in stocks like Tata Motors Commercial Vehicles i.e. TMCV, Infosys, Eternal and a decline of up to 3% is being seen in them.
