By Admin 
Stock market rally: The Indian stock market has been continuously showing a boom for the last 5 days. Looking at this boom, it seems that the “worst phase of the Indian stock market is over.” Actually, now foreign institutional investors (Fiis) are making a fast return to the Indian stock market. This is why the stock market is buzzing. This week, the Nifty 50 saw an increase of 4.26 per cent i.e. 953.2 points, which reached the level of 23,350.4. At the same time, the 30 -share Sensex reached 76,905 with a gain of 4.17 percent i.e. 3,076 points.
The biggest weekly boom
According to Bloomberg data, this is the biggest weekly boom of these major indices since February 2021. In addition, the midcap and smallcap index recorded an increase of 7.27 per cent and 8.14 per cent. At the same time, on Friday, the Nifty and Sensex were up with 0.69 percent and 0.73 percent. According to BSE data, there was a disturbance of shopping in the market today, due to which 2,823 shares saw a rise.
Nifty can go up to 23,500
This week the market boom has come at a time when business tensions are increasing and more stress is expected after reciperoch tariff to be implemented from April 2. According to analysts from Motilal Oswal, the Nifty can get support at a level of 23,000, and if it maintains this level, it can go up to 23,333 and then to 23,500 levels.
Large reasons for boom in Indian stock market
The first foreign investors return. Global funds, who sell records this year, made strong purchases in the cash market on Tuesday and Thursday this week. On Tuesday, FIIS bought shares worth Rs 1,462 crore and Rs 3,239 crore on Thursday.
The reason is also a decline in valuation. In fact, the valuation of shares also decreased during the market declining. The P/E ratio of the Nifty 50 is 19 times, which is below the summit of 23.8 times in September last year. The P/E ratio of the Nifty Auto and Nifty FMCG index has also come at 20 times and 37 times respectively.
The signal of economic reform also strengthened the market. In February, India’s retail inflation (retail inflation) came to a seven -month low to 3.61 per cent, which has increased the expectations of further cuts in the repo rate. At the same time, the Industrial Production Index (IIP) in January reached the eight -month high level of 5.01 percent. Apart from this, due to the global rally, the greenery in the stock market has also returned.
Market cap increased
The total market cap of companies listed on BSE Sensex rapidly increased to Rs 4,13,52,583.3 lakh crore on March 21. It was Rs 4,08,61,851.73 lakh crore on March 20. In this way, the market cap of companies listed in BSE increased by about Rs 4.90 lakh crore.
Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)
Also read: India Remittance Report: Neither UP-Bihar nor any state of South India, BJP-ruled this state is the highest foreign money coming in this state