The third week continued to be bullish, jump in the market due to global support, the movement of the next 5 days will be decided by these things.

The local stock market also witnessed a rally during the past week. Although the market corrected somewhat towards the end of the week, earlier the market was bullish due to persistent global support. Thus, BSE Sensex and NSE Nifty have registered gains for 3 consecutive weeks.

Last week was the same for the market.

During the week ended November 17, the Sensex gained 890 points or 1.37 percent, while the Nifty gained 306 points or 1.58 percent. On the last day of the week, Friday, November 17, the Sensex closed down 187.75 points or 0.28 percent at 65,794.73 points. The Nifty was down 33.40 points, or 0.17 percent, at 19,731.80 points.

The market has risen so much in 3 weeks.

The domestic market has been witnessing gains on a weekly basis for 3 consecutive weeks. Over the past 3 weeks, the Sensex has gained over 2000 points. In recent times, the domestic market has received tremendous support from global markets. Apart from this, reduction in inflation and increase in exports have also helped the market. A poor season of quarterly results for companies has also seen some improvement.

Most growth in these areas

The most positive thing during the past week was the return of momentum in the IT sector which had been struggling for a long time. The BSEIT index was the highest gainer of 5 percent during the week. Apart from IT, realty and auto sector also saw growth. Realty and auto indices on BSE gained 4.8 percent and 3.8 percent respectively during the week. Banking stocks came under pressure following the Reserve Bank’s action, which led to a 0.8 percent gain in the BSE Bankex index during the week. There was a decrease.

The market may find support from here.

Talking about the week ahead, global factors remain positive. Crude oil prices are falling and US bond yields are moderating. This is expected to support the local market. On the domestic front, there are less major factors influencing the market. 6 major IPOs are being launched over the next week, including Tata Group’s first IPO in almost 2 decades. This can show the excitement in the market.

Disclaimer: The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing. ABPLive.com never advises anyone to invest money.

Also Read: From Coal India to TCS, these stocks are going to offer great earning opportunities this week.

Leave a Comment