December 3 was a very historic day for BJP. Won a landslide victory in three out of four state election results. After which the stock market also set a record on Monday. Both Sensex and Nifty reached record levels. Where Sensex ran more than 1100 points. Nifty reached a new record level by reaching 20600 points. Due to which stock market investors got a profit of Rs 5.74 lakh crore. BJP’s victory is not the only factor in taking the market to record high. Apart from this, there are 5 other factors due to which stock market investors have made huge profits in 17 minutes. Let us also tell you what those factors are.
Stock market at record level
Bombay Stock Exchange’s main index Sensex witnessed a tremendous rise and reached a record level of 68,587.82 points with a gain of 1,106.63 points. However, today the Sensex opened at 68,435.34 points. At present, the Sensex is trading at 68,440.83 points with a gain of 959.64 points. On the other hand, a tremendous increase is also being seen in Nifty. According to the data, it is trading at 20,564.55 points with a rise of 296.65 points. During the trading session, Nifty reached a record level of 20,602.50 points.
Investors benefited by Rs 5.74 lakh crore
Due to this record rise in the stock market, investors have got huge profits. When the market was at a record high of 68,587.82 points at 9.32 am, the market cap of Bombay Stock Exchange had reached Rs 3,43,41,787.67 crore. Whereas on Friday the market cap of BSE was at Rs 3,37,67,513.03 crore. This means that investors made a profit of Rs 5,74,274.64 crore within 17 minutes of market opening. At present the market cap of BSE is at Rs 3,42,61,500.65 crore.
Stock market boomed due to these reasons
- Election results of 4 states: There has been a rise in the stock market due to the clear majority of the Bharatiya Janata Party in the three major northern states of India and the clear mandate of the Congress in the south. Due to which the market has reached record level. In fact, the rise in the stock market has been seen amid signs of formation of stable governments in all four states.
- Boom in Asian market: There was a mixed trend in Asian shares in early trade on Monday. Outside Japan, the Indian stock market witnessed a rise due to the rise in the stocks of Asia-Pacific region i.e. South Korea and Australia. Japan’s Nikkei declined 0.4 percent due to the recent rise of the yen.
- US Bond Yield: Last week, Treasury yields reached their lowest level in several months after a US Federal Reserve official gave new indications of interest rate cuts. The two-year yield fell to its lowest since mid-July at 4.6 per cent and the benchmark 10-year yield fell to its lowest since September at 4.23 per cent.
- Buying towards FII: FIIs bought Indian shares worth Rs 1,589 crore on a net basis on Friday. Domestic institutional investors sold shares worth Rs 1,448 crore. FIIs also broke their two-month selling streak in November and bought stocks worth Rs 9,001 crore.
- Crude oil below 80 dollars: Oil futures fell on Monday as geopolitical tensions in the Middle East came back into focus, adding to concerns about supply from the region, but uncertainty over OPECPlus’ voluntary production cuts and a surge in global fuel demand once again weighed on the futures market. Again the dream of rising prices was shattered.
- Rupee strengthened: In early trade, the Indian rupee rose by 6 paise to 83.27 dollars against the US dollar. The dollar index increased by 0.03 percent to the level of 103.29.
Source: www.tv9hindi.com”