Stock market boom (Social media)
Business News: The week started with a record-breaking rally for the Indian stock market. As soon as the markets opened on Monday, both the Sensex and Nifty gained tremendous momentum and brought a new glow of hope to the faces of investors. The Sensex jumped more than 600 points in the initial minutes, while the Nifty crossed the historic 25,000-point mark.
The BSE's major 30-share Sensex opened at 81,928.95 points. As soon as the market opened, it showed a rise and touched a high of 82,397.60 points. This was a gain of about 600 points over Friday, which excited investors. Similarly, the NSE's Nifty 50 index opened at 24,919.35 points and reached a new high of 25,055.95 points before 9:30 am.
The main reason for this amazing boom is the news of the excellent performance of the Indian economy at the global level. Recently, India has achieved the distinction of becoming the fourth-largest economy in the world, leaving behind Japan. This positive economic news boosted the confidence of investors and encouraged heavy buying in the market.
Apart from this, the positive trend in the global markets also strengthened the Indian stock market. Japan's Nikkei 225 and South Korea's Kospi market opened in the green mark, making investment opportunities in India more attractive. Also, the news of big companies in the technology sector like Apple continuing production in India has also excited investors.
Anil Ambani's company, Reliance Power, got the biggest benefit from this tremendous boom in the stock market. The company's shares showed a rise of more than 4 percent in early trading and reached the level of Rs 54.04. With this, the total market capitalization of the company reached about Rs 21,792 crore.
On Friday, the share of Reliance Power closed at Rs 51.90, but the rise in it in the beginning of Monday itself gave investors a profit of thousands of crores of rupees in a short time. However, due to profit booking, the stock later came down a bit and closed at Rs 50.39.
This rise once again made it clear that India's strong economic foundation and positive policies are attracting global investors. With the increase in investor confidence, new energy has been infused in the domestic stock market. Experts believe that this trend will continue in the coming days, due to which the Indian stock market can touch new heights.
Monday proved to be a milestone for the Indian stock market. This rise in the Sensex and Nifty has indicated that India is moving rapidly towards economic strength. The improvement in the country's economic data and India's increasing competitive ability at the global level have increased the enthusiasm of investors. In such a situation, it is expected that more positive events will be seen in the market in the coming time.
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