In the past two days, the price went down in the market. However, the intraday prices show an upward movement with 750 points in Sensex. Nifty went up with an increase above 14,550.
The sectors with an upsurge in prices include Metal, auto, bank, financials, FMCG, and IT.
The Sensex at 1400 hours was 49,133.65. On the other hand, Nifty was on 14,545.80
The factors affecting the upward movement include the positive sentiment among the investors towards the Indian stock market.
The estimation of US GDP and announcement of a reduction in the unemployment rate resulted in positive market sentiment.
The Gross Domestic product rose to 4.3 percent in the fourth quarter.
Adding, the market correction influenced the investor to buy shares in major sectors. Also, the valuations were reduced.
According to the analyst, the temporary decline in the market prompt the investor to buy more. Further, the investor expects returns in the future as the market goes down for a short period of time.
Currently, the target sectors are metal, auto, and bank.
Moreover, the rise in the provision of vaccinations resulted in positive market sentiment.
The ease and availability of vaccines will defeat the adverse impact of the spread. Hence, the economic activates remain unaffected.
Unlike the 2020 pandemic the spread, this year probably will not affect the growth and earnings.
Also, long-term investors have a chance to acquire good quality stock in the declining market.
According to an expert, the trading will continue in the market for a short period of time. The point above 14,750 may result in market positivity.
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