The prices of the stocks increased this week despite 2 days holidays given. The small and mid-cap stocks went up in the three days session. Further, 51 stocks increased by 10 percent in the trading period.
The reasons for the hike include global activities affecting the financial market and lift in the market sentiments. The market sentiments improved even though a rise in the covid-19 spread in the country and the international region. Sensex closed above 50,000 whereas, Nifty50 ended above 14,800 levels.
Also, experts added that in the case of Nifty goes below 14,600 the buying opportunity for traders arises.
Additionally, the global cues inclined towards the positive side with Joe Biden’s statement of the infrastructural investment plan.
Furthermore, foreign institutional investors raised an amount of Rs 700 crore through delivery-based trading in the domestic equity market.
The public holidays in the given week provided were March 29 for Holi and April 2 for Good Friday.
Also, the buying observed in the sectors like metals, Utilities, IT stocks, and more. The rise in auto sales led to a gain of 1.6% in the auto sector.
As per the reports, the elevation of the price and demand in the international and domestic market consequently uplifted metal stocks.
As per the expert point of view, the traders should focus on banks, commodities, and pharma stocks.
On the last trading session held on April 1, 2021, the BSE index increased 2.08 percent. Whereas, nifty rose 2.4 percent.
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