After opening on the green mark amid mixed signals from the international market, the stock market closed on the red mark after the day’s volatility on Monday, the first trading day of the week. The Bombay Stock Exchange’s flagship index Sensex closed at a level of 48347.59, a steep decline of 530.95 points, or 1.09 per cent. At the same time, the National Stock Exchange’s Nifty lost 133 points (0.93 per cent) to close at 14238.90.
The 30-share BSE Sensex was down 156.13 points or 0.31 per cent in the previous week. The stock markets may fluctuate this week between the settlement of monthly derivative contracts before the general budget and the quarterly results of companies. Experts have expressed this opinion. Siddharth Khemka, head of retail research, Motilal Oswal Financial Services Ltd, said, “There may be a market turmoil in the coming days before the Union Budget and monthly deals expiry.”
The BSE Sensex crossed the 50,000 mark for the first time last week. Analysts said that now all eyes are on the budget of 2021-22. The budget will provide direction for further journey of Sensex. The market witnessed a lot of ups and downs in the last year between the corona virus epidemic. The 30-share BSE Sensex hit a one-year low of 25,638.9 on March 24. However, the Sensex went to record levels during the year ahead.
Talking about the big stocks, shares of UPL, Cipla, Axis Bank, Grasim and Hero MotoCorp closed on the green mark today. The shares of Reliance, Itcher Motors, Tata Motors, HCL Tech and IndusInd Bank closed at the red mark.