Business Desk – Share Market Update: The Indian stock market witnessed a strong rally on Monday (August 3). Investors bought heavily on the first trading day of the week, opening the market in the green. The Sensex rose nearly 600 points to trade at 78,700.
The Nifty 50 also gained nearly 200 points to reach 24,550. FMCG, IT, and banking stocks saw the most buying in early trading, strengthening the market.
Most Buying in FMCG, IT, and Banking Stocks
Most buying in Monday’s trading was seen in FMCG, IT, and banking sector stocks. Both the Sensex and Nifty remained strong due to strong buying in these three sectors. Most major stocks in the market traded with gains, boosting investor confidence.
Asian Markets Mixed
Asian markets witnessed mixed trading amid the rise in the Indian stock market. South Korea’s Kospi index is trading at 6,296, down 298 points, or 4.55%. Japan’s Nikkei index is down 1,122 points, or 1.74%, at 63,241. Hong Kong’s Hang Seng index is trading at 25,922, up 38 points, or 0.15%.
Positive Signals from the US Market
The Indian market has also received positive signals from the US. On July 31, the US stock markets closed with gains. The Dow Jones closed at 52,485, up 277 points, or 0.53%. The Nasdaq gained 252 points, or 1.00%, to reach 25,374. The S&P 500 closed at 7,490, up 52 points, or 0.70%. The strength in the US markets was also reflected in Indian market sentiment on Monday.
Foreign investors purchased shares worth ₹5,673 crore in 7 days.
Buying by foreign institutional investors (FIIs/FPIs) is also being considered a positive sign for the market. Foreign investors made net purchases of ₹278 crore in the latest trading session. Over the past 7 days, they have purchased shares worth ₹7,638 crore, while net selling of ₹5,682 crore has been recorded in the past 30 days.
Meanwhile, domestic institutional investors (DIIs) made net purchases of ₹2,260 crore in the latest session, ₹3,059 crore in the past 7 days, and ₹32,110 crore in the past 30 days. Market experts believe that continued buying by domestic investors is playing a key role in strengthening the market.
Market closed with gains on Friday as well
Earlier, on Friday, July 31, the stock market also closed with gains. On that day, the Sensex rose 166 points to close at 78,094. The Nifty gained 66 points to close at 24,383. The market’s strength for the second consecutive trading session has boosted investor confidence.
What are the signs for investors?
The strong market movement at the beginning of the week indicates that investor sentiment remains positive. However, the stock market may remain volatile. Therefore, investors should consider company fundamentals, market conditions, and their financial goals before making any investment. It’s always best to invest with expert advice.
