In the early trading of the country’s stock market, there is a firming trend on Monday. Major index Sensex, at 9.25 am, advanced by 193.28 points to end at 38,141.16 and the Nifty also traded at 38,355 points at the end of the day, at 11,509.10. Nifty crossed 11,500, for the first time, the Sensex crossed the old record of 38,076 points and reached its new all-time high of 38,200 for the first time. The highest bounce was seen in Reliance and L & T shares.
The Sensex, based on the 30-share index of the Bombay Stock Exchange (BSE), strengthened by 127.19 points in early morning trade at 38,075.07 points, while the National Stock Exchange (NSE) 50-share sensitive index Nifty rose by 31.35 points to 11,502.10.
Let us tell you that this week the stock market moves the result of the ongoing trade talks between India and China, the macroeconomic figures of domestic and global markets, quarterly results of major companies, monsoon movements, global market trends, foreign portfolio investors ( FPI) and investment by domestic founder investors (DII), the move of rupee against the dollar and the performance of crude oil prices together E The country’s stock exchange will be closed on Wednesday (August 22) on the occasion of Bakrid. The Indian Meteorological Department (IMD) in its report released on August 16 said that during the south-west monsoon, from June 1 to August 15, the total rainfall is 9 percent less than the long-term average (LPA). From June to September, the southwest monsoon season is very important for the country’s agriculture, because still, a large part of the country’s agriculture is dependent on rainwater for irrigation.
On the global front, investors are looking at the ongoing trade talks between the US and China. According to reports, a delegation from China will hold a meeting with American representatives in Washington on August 21 and 22. In recent months, the US and China are increasing the export duty on each other, because there is disagreement over the trade deficit between the two countries. Due to this, the fear of investor potential trade war is worrisome, because if this happens, then the global economic downturn may take place.
The US Central Bank Federal Reserve will issue minutes of its free market committee meeting on August 22, this meeting took place on 31 July and 1 August. The minutes of this meeting will get information on the economic evaluation of the committee regarding the potential risks associated with the business. In its August meeting, the Federal Reserve had fixed the target range from 1.75 to 2 percent for the federal funds rate.