Auto, Bank, Media, Telecom, Oil & Gas, Power, Realty have seen a growth of 1-2 percent.
The domestic stock market, which is facing continuous decline and huge losses, started trading with a strong surge on Monday. Bombay Stock Exchange index Sensex was trading at the level of 80,404.56 with a strong gain of 1287.45 points at 9.32 am. Similarly, Nifty of National Stock Exchange (NSE) was seen trading like a rocket at the level of 24315.75 with a rise of 408.5 points. It is believed that investor confidence has increased after the victory of the BJP-led alliance in the Maharashtra Assembly elections.
All sectoral indices in the green
At the start of trading, all sectoral indices are trading in the green. Auto, Bank, Media, Telecom, Oil & Gas, Power, Realty have seen a growth of 1-2 percent. Shriram Finance, M&M, Bharat Electronic, Adani Enterprises, BPCL were major gainers on Nifty, while JSW Steel declined. BSE Midcap and Smallcap indices registered a gain of 1.5 percent each. After being under pressure last week, Adani Group shares gained strength again today.
BSE Midcap and Smallcap indices registered a gain of 1.5 percent each.
Buying in select heavyweights like Reliance Industries Limited (RIL), ICICI Bank, HDFC Bank, Larsen & Toubro (L&T), Mahindra & Mahindra (M&M), State Bank of India (SBI), Airtel and Axis Bank lifted the indices. . The formation of a new government in Maharashtra will have a positive impact on infrastructure, urban development and manufacturing sectors as per the government policies.
the dollar has become stronger
The US dollar has risen for eight consecutive weeks and reached a two-year high on Friday. According to analysts at TD Securities, US funds have accounted for more than 70% of all developed market bond fund flows and nearly 90% of all DM equity fund flows over the past 13 weeks.
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