Benchmark domestic stock market indices Sensex and Nifty closed higher on Monday. Weaker-than-expected US employment data eased fears of aggressive monetary tightening by the US Federal Reserve, supporting risk appetite in emerging markets. Where the Sensex saw a rise of about 473 points. On the other hand, Nifty saw an increase of around 134 points.

Because of this, stock market investors have benefited more than 2 lakh crore rupees. Earlier, the stock market had seen a decline for 8 consecutive weeks. It is expected that the current week will see a rally in the stock market and stop the downward trend, for which Monday has given a good start. Let us also tell you what kind of figures have been seen in the stock market.

Stock market boomed

BSE’s 30-share flagship index Sensex closed up 472.77 points, or 0.66 per cent, at 72,382.47 points. During trading, it was at one point up 722.23 points, or one per cent, at 72,631.93 points. NSE’s 50-share benchmark Nifty closed up 133.80 points, or 0.60 per cent, at 22,555.75 points. Shares of ITC, Eternal, Bharti Airtel, Bajaj Finance, Adani Ports, ICICI Bank, Reliance Industries and Larsen & Toubro rose among the 30 companies included in the Sensex. At the same time, shares of HCL Tech, HDFC Bank, Sun Pharma, Infosys and Asian Paints fell.

Why did the stock market soar?

1. Ajit Mishra, senior vice-president (research) at Religare Broking, said that the markets made a strong comeback on Monday after respite from the recent bearish trend and gained more than half a percent.
2. Global indices remained relatively benign as crude oil prices came down from recent highs. Brent crude oil is around $102 per barrel, providing some relief on the inflation front.
3. He said the weaker-than-expected US employment data also eased fears of aggressive monetary tightening by the US Federal Reserve, which supported risk appetite in emerging markets.
4. International oil standard Brent crude futures rose 0.19 percent to $102.4 a barrel. Vinod Nair, head of research at Geojit Investments Ltd, said weak employment expectations in the US and softening crude oil prices led to the market’s comeback.
5. This provided some relief to investors assessing the outlook for interest rates in the near term. Now the focus is on the Reserve Bank of India’s policy decisions and the upcoming quarterly results of companies.

Stock market conditions in foreign markets

In Asian markets, Japan’s Nikkei 225 rose more than two percent while Hong Kong’s Hang Seng closed with marginal gains. South Korea’s Kospi and China’s SSE Composite were closed due to holidays. European markets were mixed in afternoon trade. While the American markets closed higher on Friday. According to stock market data, Foreign Institutional Investors (FIIs) on Thursday invested Rs. 9,484.22 crore worth of shares were sold. Sensex closed down 242.65 points and Nifty down 64.05 points on Thursday. The stock markets were closed on Friday on the occasion of Gandhi Jayanti.