The effect of spring returned in the stock market, Go Fashion listed at 90% premium
The stock market had a good start on Tuesday. The BSE Sensex opened up 238.58 points at 57,499.16. At the same time, NSE’s Nifty opened with a gain of 51.35 points at 17,105.30.
- The benchmark index continued to rise on Tuesday
- Investors’ wealth increased by 3.05 lakh crore in 15 minutes, investors are believing that the new form of Corona will not be more fatal
- But this has again raised concerns about the economic recovery.
On the second trading day of the week, the stock market showed a strong trend. BSE Sensex opened up 101.27 points and NSE Nifty 51.35 points. The stock markets closed with a heavy fall on Friday last week. Although there is an atmosphere of fear among investors about the new variant of Corona across the world, its effect is clearly visible on the stock market.
The Sensex rose over 500 points in early trade on Tuesday led by gains in Tata Consultancy Services (TCS), Infosys and Bajaj Finance. The 30-share Sensex of BSE rose 504.75 points or 0.88 percent to 57,765.33 points in early trade. Similarly, the Nifty of the National Stock Exchange (NSE) was trading at 17,203.60 with a gain of 149.65 points or 0.88 percent.
Sensex up 700 points
The stock market opened on Tuesday with a bullish trend. The Bombay Stock Exchange (BSE) Sensex opened with a gain of 101.27 points. Soon there was a boom in business. At 10.30 am, the Sensex climbed 815.43 points and again crossed the 58,000 mark. At present, the Sensex is trading at 58,076.01 points. On Monday, the Sensex closed at 57,260.58 points.
On November 29, foreign institutional investors sold Rs 3,332.21 crore in the Indian markets. At the same time, domestic institutional investors bought Rs 4,611.41 crore on this day.
Uptrend in Nifty
The Nifty of the National Stock Exchange (NSE) also opened with an upward trend. The market started with a rise of 51.35 points and soon it climbed 211.75 points at around 10:30. At present, Nifty is trading at 17,265.70 points. On Monday, Nifty closed at 17,053.95 points.
Shares of Go Fashion List at Premium
The effect of this return in the stock market was visible on the stock of Go Fashion. On Tuesday, after the IPO, the company’s stock was listed at a premium of 90% from its issue price. The share price in Go Fashion IPO was Rs 690, while its listing price reached Rs 1,316 per share.
Wise investment by investors
Investors are apprehensive about the outbreak of Omicron, a new variant of Corona spreading across the world and hence are investing in the stock market with a cautious approach. During this time, the interest of investors in safe options like gold has increased. Although experts are of the opinion about Omicron that its danger is not very high. Therefore
Foreign Portfolio Investors (FPIs) are investing very carefully and wisely.
The chic of these companies
Due to the bullish trend in the stock market, the shares of many companies were seen in chic. Among the 30 companies included in the Sensex, there was a rise in the shares of companies related to banking and finance. Shares like Bajaj Finance, Bajaj Finserv, Axis Bank remained in the green zone.
Earlier, the stock of Dr Reddy’s remained in weak condition but later it also showed improvement and it came in the green zone. Similarly, 48 out of 50 companies of Nifty remained in the green zone. Only the shares of Dr Reddy’s and Divis Lab remained in the red zone. Apart from Bajaj Finance and Bajaj Finserv in the Green Zone, shares of companies like Tata Motors, Tech Mahindra maintained their hold.
Why is there increasing hope and concerns: The WHO said on Monday that the infection of Omicron is expected to spread rapidly. Many countries have closed their borders in view of this. This has again raised concerns about the economic recovery. But a South African expert has said that the current vaccine should be effective to avoid the new variant of corona.
Infinity Forum on Fintech This week, PM will inaugurate Inflation will come down: US Federal Reserve Chairman Jerome Powell has said that inflation will come down next year. This is because there is a better balance between supply and demand. But at the same time he has cautioned that the new variant of Kovid-19 can disturb it. This could lead to a rise in prices in the long run.