The domestic stock market is witnessing a record rise these days. The bullish trend of the market continued during the last week also. During this period, the market made many new records. On one hand BSE Sensex and NSE Nifty managed to reach new record high levels, on the other hand Nifty crossed the 20 thousand mark level for the first time. Now the new week of the market is going to start from September 18.
Right now the market is at this level
On Friday, the last day of last week, the Sensex became stronger by more than 400 points and reached 67,838.63 points. Closed at, which is the new closing high. During trading, the Sensex reached 67,927.23 points, which is its new all-time high level. Nifty strengthened by 90 points and closed near 20,200 points with a new record. On Friday, the market remained strong for the 11th consecutive day. Talking about last week, Sensex gained 1,239.72 points and Nifty gained 1.87 percent during the entire week. The domestic market is recording a rise for three consecutive weeks.
The month is proving to be historic
Last week was not good for the broader market. During the week, a decline of 0.5 percent was recorded in the BSE Midcap Index and 1 percent decline in the Smallcap Index. However, this month is proving to be historic for the major indices Sensex and Nifty. So far during the month of September, Sensex and Nifty have defeated all other important markets of the world by a long margin.
FPIs are selling
This rise in the market is due to this fact. Despite this, foreign investors continue to remain sellers in the Indian market. Foreign portfolio investors i.e. FPIs have sold Rs 4,768 crore in the Indian equity market so far in the month of September. FPI selling is expected to continue in the coming days also, because on one hand the Indian market is at a record high level, on the other hand the bond yield in America has strengthened.
The market will be open only on 4 days of the week< /h3>
If we look at the week starting from Monday, it is going to be affected by holidays. There will be a holiday in the market on Tuesday, September 19 due to Ganesh Chaturthi. For this reason, the new week for the market will last only for four days. Due to absence of events on the domestic front during the coming week, the market movement will be more affected by external factors.
The market will be affected by these factors
The market will be most affected in the new week. The influencing factor is the meeting of the US Central Bank. The Federal Reserve will decide on interest rates during the week, which will affect markets around the world. A meeting of Bank of Japan and Bank of England is also going to be held. Apart from these, the trend of crude oil, dollar and foreign markets can also have an impact on the market.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest any money.
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