Share Market: Stock market at a new peak, expected to rise next week too

Despite the mixed trend of the global market, the stock market reached a new peak last week on the strength of all-round buying in almost all the groups at the domestic level, and the market is expected to remain bullish next week also but small investors should be cautious. It has been advised because there is a strong possibility of a correction in the peak at which the market is now.

During the period under review, the 30-share Sensex Sensex of BSE was successful in closing by crossing the level of 5,6100 points. The Sensex closed at 56124.72 with a gain of 795.40 points, which is the highest level of its closing so far. Similarly, the Nifty of the National Stock Exchange (NSE) also closed above the level of 16700 points. At the end of the week, it rose by 254.70 points to 16705.20.

Along with the giants, small and medium companies also remained strong in buying, due to which BSE Midcap was up by 575.52 points at 23255.39 points and Smallcap was up 526.04 points at 26284.15 points. Analysts say that along with global factors, domestic factors are also deciding the movement of the market, due to which the stock market has managed to reach new highs. Except for Kerala, new cases of corona have almost stabilized in the entire country, due to which economic activities are expected to be back on track rapidly. Along with this, with the monsoon being almost normal this year, there is a possibility of an increase in demand in rural areas, which may bring demand for consumer goods.

He says that due to these factors, the market remains bullish and the market may see a rise in the next week also. Along with this, the data of sales of vehicles, PMI figures are coming next week, which will decide the trend of the market. In view of this, small and retail investors should be cautious as there is a possibility of market correction or profit-booking by foreign investors.

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