The market is still breaking records in 2024, know how the situation will be this week!

Domestic stock markets are once again at new highs. After some corrections in the early days of 2024, both key country indices are now at new highs. On Friday, January 12, the Sensex and Nifty registered strong gains in trading. Let us know how the market will fare in the coming days, especially this week…

The stock market reached new highs.

If we look at last week’s situation, the BSE Sensex gained around 660 points (0.92 percent) in the entire week. While NSE’s Nifty 50 gained 0.79% during the last week. On the last day of last week, the Sensex gained 847.27 points or 1.18 percent to 72,568.45 points. During trading, the Sensex also hit a fresh high of 72,720.96 points. Similarly, the Nifty gained 247.35 points or 1.14% to close at 21,894.55 points. It touched a new high of 21,928.35 points during the trading session. Now Nifty stands on the threshold of crossing 22 thousand points level for the first time in history.

Last year was great.

A correction has been observed in the stock market during the fortnight of 2024. However, the overall market is still in profit. Both the Sensex and Nifty have gained around 1% so far this year. Last year proved to be very good for the market. Sensex crossed the 70 thousand points level for the first time during the year. Nifty also crossed the 20 thousand mark for the first time. Throughout the year, the Sensex gained 11,072 points (18.10 percent) and the Nifty gained 3,534 points (19.42 percent).

These domestic factors will have an impact.

On the domestic front, IPOs, dividends and quarterly results of companies may influence the market during this week. 5 new IPOs are being launched during the week, while 5 new shares are also going to be listed in the market. Major companies like TCS and Infosys have started the third quarter results season. Stocks like TCS and HCL Tech are going ex-dividend during the week.

FPI has started selling.

Market movements can also be affected by FPI behavior. FPIs, which had been buying steadily, have been selling in the past week. During the last week, FPIs sold net equity worth Rs 2,477 crore in the Indian market. Apart from this, the movement of dollar and rupee, price of crude oil and the trend of foreign markets can also affect 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: Chance To Make Money In Many Big Stocks, Dividend Bumper Season Begins This Week

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