Stock Market: The reason for the rise in the market is also the indication that a stable government will be formed in the country in the general elections to be held next year. This boom led to a sharp increase in market capitalization. With the market boom, the property jumped by Rs 5.81 lakh.
In the results of assembly elections held in five states, BJP had a landslide victory in three states. Not only Modi supporters are happy with the victory in Madhya Pradesh, Chhattisgarh, and Rajasthan but the stock market is also happy. Investors are now beginning to feel that there will be a saffron wave in the 2024 Lok Sabha elections. This expectation brought a green storm in the shares on Monday. Both benchmark indices closed at record levels. The reason for the rise in the market is also the indication that a stable government will be formed in the country in the general elections to be held next year.
Investors' wealth increased by Rs 5.81 lakh crore: Domestic stock markets rose for the fifth consecutive trading session on Monday and BSE Sensex closed at a new record high with a huge jump of 1,384 points. This boom led to a sharp increase in market capitalization. With the market boom, investors' wealth increased by Rs 5.81 lakh crore.
Nifty also reached its highest level till date: Amidst this rise, Nifty also reached its highest level till date. This is the biggest rise in Sensex in a day after May 20, 2022. The market capitalization of BSE-listed companies increased to Rs 343.48 lakh crore.
Markets rise due to domestic economic data
According to market experts, there was a rise in all sectors in anticipation of continued FII investment. The market was also supported by positive statements regarding inflation in other countries of the world and stable domestic macroeconomic data.
Market condition was like this on Monday
Nifty broke the high of 20,222.45 last week.
44 out of 50 shares closed in the green.
Nifty rose 473.20 points last week.
Last Friday, the market capitalization touched four trillion dollars.
The previous high of Sensex was 67927.23.
Only two out of 30 shares closed in the red.
Sensex rose 1511.15 points last week.
Last Wednesday, the market capitalization touched four trillion dollars.