Sensex-Nifty shows around 1 percent growth, know what was the important reason

On March 26, after a two-day decline, the Indian markets saw a strong boom. In today’s business, Sensex saw a jump of over 750 points in intra and Nifty went above 14550.

After the recent decline, investors took advantage of the cheap market and today saw shopping in almost all sectors. There was strong buying in metal, auto, banks, financials, FMCG and IT. The Sensex closed up 568 points, or 1.17 per cent, at 49,008.50 at the end of trading. At the same time, the Nifty has closed at 14,507.30 with a gain of 182 points, or 1.27 per cent.

There was a strong buying in small-medium stocks. The BSE midcap index closed up 1.6 per cent. The small-cap index closed at 1.08 per cent.

Let us know the important reasons which filled the market with enthusiasm

1-Positive Global Signals – Today, all major markets around the world have seen an increase. Its impact has been seen in Indian markets today as well. According to a Reuters report, a bounce back has been seen in markets across the world on Friday. Asian markets have improved from their 3-month lows. Investors are currently focusing on global recovery, keeping an eye on the growing tension between China and Western countries.

2 – Improvement in US macro figures

Better-than-expected US GDP figures and a decrease in the unemployment rate there have given a strong boost to market sentiment. US GDP grew at 4.3 per cent year-on-year, compared to 4.1 per cent in the previous month.

3-Cheap Valuation

After the recent fall in the market, all the good stocks have become cheap. Investors are taking advantage of this and are buying in good stocks in almost all sectors. Market experts were already saying that any fall would be a good buying opportunity. Investors are currently focusing on sectors such as metal, auto and banks that will benefit from the recovery in the economy.

4- Increase in vaccination

Experts say that with the further increase in vaccination, the market will improve further. VIK Vijay Kumar of Geojit Financial says that increasing vaccination will provide support to the market. In this race of Covid and Vaccination, the final Vaccination will win. The market also knows that recent fluctuations are a temporary condition before stability comes.

5- Strong support for Nifty between 14,300-14,350

Manish Hathiramani of Deendayal Investment says that today the gap in the Nifty New Series opened with a gap-up opening. The reason for this is that it got a bounce back with strong support of 14,300-14,350. It should not be considered a reversal in the trend. The market seems to be cheap.

Once the Nifty goes above 14,750 and 14,800, we will again see a positive trend. Till then we should sell in the event of any rally in the Nifty. If the Nifty breaks tomorrow’s low, then it can slip to 14,400.

Gaurav Garg of Capital Via says that the Nifty may remain in the range of 14,400-14,750 in the short term. If you break this level on the upside, you can see further increase in the Nifty.

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