The Nifty 50 ended at 20,686. 80, which is 419 points higher, or a 2. 07% increase The Sensex closed with a gain of 1,384 points, or a 2. 05% increase, at 68,865. 12.
3 min read 12/04/2023, 07:00 PM IST
On Monday, December 4, the Nifty 50 and Sensex, which show how well the stock market is doing, reached their highest levels ever, showing big profits. This increase came after the Bharatiya Janata Party won in three big states, making people think the party might stay in power in the next General Elections in 2024 and keep the government stable. Market experts think that the results of the general elections and state elections have made people more hopeful that the ruling BJP will do well in the next year’s elections. This result is expected to make the government keep doing the same things and making changes as they have been doing.
Also Read; Nifty 50
In the meeting, the Nifty 50 went up to a new highest point of 20,702. 65, and the Sensex reached a new peak of 68,918. 22 In the end, the Nifty 50 ended at 20,686. 80, which was 419 points higher (2. 07%) The Sensex also closed higher, gaining 1,384 points (2. 05%) at 68,86512 Both ended at record high closing levels. The BSE Midcap and Smallcap indices reached new highs of 35,124. 23 and 41,22191 The BSE Midcap index went up by 1. 19% and closed at 34,999. 76, while the Smallcap index went up by 1. 20% and closed at 41,051. 01
The total value of all the companies listed on BSE went up to about ₹343. 5 lakh crore from ₹337. 7 lakh crore in the last session. This means that investors gained about ₹5. 8 lakh crore in just one session.
More than 430 different stocks reached their highest value in a year while being traded on the stock exchange, including Axis Bank, Bajaj Finserv, Bharti Airtel, HCL Tech, Larsen & Toubro, Mahindra and Mahindra, NTPC, Titan, and UltraTech Cement.
Today, the top 50 companies on the Nifty index saw the biggest increases in their stock prices.
- Eicher Motors stock went up by 7. 45%
- Adani Enterprises is up by 6. 78%
- Adani Ports went up 6. 15%
The top 50 stocks that lost the most today in the Nifty 50 index.
- HDFC Life’s stock decreased by 0. 83%
- Britannia Industries went down by 0. 74%
- HCL Tech’s stock fell by 0. 13%
- Out of the Nifty 50, 44 stocks went up in value, and 6 stocks went down.
Today’s different categories in stock market.
Stocks for banks, finance companies, and oil & gas companies went up a lot. The Nifty Bank index went up by 3. 61% The Nifty PSU Bank index went up by 3. 85%, and the Private Bank index went up by 3. 54% Nifty Financial Services went up by 3. 23%, and Nifty Oil & Gas index went up by 3. 15% Only two categories, Nifty Media and Nifty Pharma, went down.
Vinod Nair, an expert in the market, said that the benchmark index reached a record high because the BJP won by a large margin in three states. He talked about a rally where people were feeling hopeful about the government after the election. Many different areas of the economy took part in the rally. Nair said that foreign investors are still buying stocks and that global inflation and our country’s economy are doing okay.
Stock market expert Rupak De from LKP Securities said that the Nifty has gone past the important level of 19,850. More people are betting on the Nifty going up, so there might be a big increase in its value. De feels very positive that the Nifty will go up unless it falls below 20,400. He thinks it might even reach 21,000. Investors should talk to certified experts before making any investment choices.
Warning; The opinions and suggestions are from specific analysts, experts, and broking companies, not Mint. Investors should check with trusted experts before deciding where to invest their money.
