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The stock market made history, this feat occurred for the second time in 31 years

Sagar Patel

By Sagar Patel

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The stock market hit a new record high on Thursday.

The stock market closed with gains for the fourth consecutive day. In which new records were made for three consecutive days. Sensex first crossed the level of 78 thousand points and after 24 hours it also crossed the level of 79 thousand points. But this time the one who created the story is Nifty. Nifty saw a rise of 1000 points with the second fastest pace in three decades. Yes, Nifty crossed 24 thousand marks on Thursday. This time, Nifty took just 23 business days to reach 23k to 24k points. Which is the second best speed since the beginning of Nifty.

If we talk about the last 4 days, a rise in the stock market of around 2.5 percent has been observed. Where Sensex has seen an increase of more than 2000 points. At the same time, an increase of about 550 points has been observed in Nifty in just 4 trading days. In these trading days, the market capitalization of BSE has increased by more than Rs 4.34 lakh crore. Let’s try to understand in the language of statistics at what level the stock market is trading and what level it can reach in the coming days.

The market reached a record level

Bombay Stock Exchange’s main index Sensex set a new record for the third consecutive day. According to the data, the Sensex rose over 700 points during the trading session on Wednesday and reached 79,396.03 points. Which is a new record for Sensex. The special thing is that Sensex surpassed the level of 79 thousand points for the first time. However, the Sensex closed at 79,243.18 points on Thursday with a gain of 568.93 points.

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According to the data, Sensex had seen a rise of over 2000 points in the last 4 trading days. According to the data, Sensex closed at 77209.90 points on June 21. Since then, the Sensex has closed at an all-time high with a gain of 2.63 per cent i.e. 2,033.28 points. According to experts, Sensex is now targeting the level of 80 thousand points.

Nifty achieved second highest record

On the other hand, Nifty has achieved the second best record in 3 decades. In fact, for the second time in the shortest time, Nifty has seen a rise of 1000 points. It took only 23 traders for Nifty to reach the figures of 23 thousand to 24 thousand points. Well, today Nifty has reached a new level by crossing 23 thousand points. During the trading session, Nifty saw a rise of 218.65 points and appeared at a record level of 24,087.45 points.

However, in the last 4 trading days, Nifty has seen an increase of about 550 points. According to the data, Nifty closed at 23,501.10 points on June 21. While on Thursday it closed at 24,044.50 points. This means that in these trading days, Nifty has seen an increase of 2.31 percent i.e. 543.4 points.

How much profit do investors make?

The special thing is that even after the Sensex rose by more than 2,000 points in these four trading days, investors could not benefit as much as they should have. If you look at the numbers, the market capitalization of BSE as on June 21 was Rs 4,34,48,667.42 crore. Which reached Rs 4,38,83,630.91 crore on Thursday. This means that during this period the market capitalization of BSE has increased by Rs 4,34,963.49 crore. Whereas, usually after such an increase, an increase of Rs 8 to 10 lakh crore is seen in the market capitalization. We’ve all seen many examples of this before.

Top losers and winners

Most of the 50 Nifty stocks saw a rise. According to the data, 35 stocks closed in the green. On the other hand, a drop was observed in 15 shares. If we talk about the top gainers after the market close, shares of UltraTech Cement rose by 5.45 percent, LTIMindtree by 3.58 percent, Grasim Industries by 3.24 percent, NTPC by 3.19 percent and Wipro up 3.09 percent. If we talk about top losers, Larsen & Toubro (L&T) is leading in Nifty, shares of Shriram Finance, Eicher Motors, Divi’s Laboratories and HDFC Bank have seen a decline of less than 1 per cent.

What the experts say

Vishnu Kant Upadhyay, Assistant Vice President, Research and Advisory Division at Master Capital Services, said in a media report that the domestic stock market rose for the fourth consecutive day on Thursday due to heavy buying in blue-chip stocks, which took the Nifty index higher. 24,000 points. With this, the Sensex crossed 79,000 and hit a new all-time high. To this end, he cited increased buying in index heavyweights, political stability and return of FIIs in the domestic market as the main factors behind the market rise.

World market situation

Asian markets were mixed on Thursday. Japan’s Nikkei 225 fell 0.82 percent, while Hong Kong’s Hang Seng index dropped more than 2 percent. China’s Shanghai Composite, meanwhile, was down about 1 percent. Singapore’s FTSE Straits Times Index was among the gainers, rising 0.35 percent.

rupee rise

The Indian rupee closed strongly on Thursday, supported by flows into domestic sovereign bonds ahead of their inclusion in JPMorgan’s emerging markets debt index. It closed at 83.46 against the US dollar, up 0.1 percent from its previous closing level of 83.57. Despite hitting an intraday high of 83.44, gains were limited due to demand for dollars from local oil companies, Reuters reported, citing traders.

Effect of crude oil prices

Crude oil prices were trading higher on Thursday with the US WTI oil contract trading at $81.17, up $0.27 or 0.33 per cent, while Brent oil futures rose $0.31 or 0.36 per cent to $85.56 a barrel. Talking about the Indian futures market, July crude oil futures on MCX were trading at Rs 6,785 per barrel, down Rs 20 or 0.29 per cent.

money coming in from investors

Foreign investors have also played an important role in driving Sensex and Nifty to record levels. FIIs have pumped Rs 32,000 crore into the stock market in the last 12 trading days. FIIs can be seen pouring money into Indian funds at the expense of China, Brazil, Taiwan and South Korea, as a consensus slowly builds on interest rate cuts in the second half of 2024 .This month’s purchase comes after an outflow of over Rs 34,000 crore by FII in the last two months. According to SEBI data, FIIs have been net buyers on Dalal Street in 12 consecutive trading sessions from June 7 to June 25.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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