The financial year 2023-24 is ending today. However, the financial year for the stock market had ended two days earlier on March 28. The domestic market also ended the last week of the financial year, which was full of records, on a high note. In this way, the financial year 2023-24 ended with two consecutive weeks of growth.
Only 3 days of trading
Only 3 days of trading took place in the last week of the current financial year. Happened. On Monday 25th March the stock market was closed due to Holi. After that there was normal trading in the market on Tuesday, Wednesday and Thursday. On Friday, March 29, the market remained closed due to Good Friday. Now the market will open on the first day of the new financial year i.e. on April 1, 2024.
Sensex-Nifty made this record
BSE on Thursday, March 28, the last trading day of the financial year 2023-24. Sensex jumped 639.16 points (0.88 percent) and closed at 73,635.48 points. Nifty stood at 22,326.90 points with a rise of 203.25 points (0.92 percent). During the entire week, Sensex and Nifty rose by 1 percent each. In this way the market strengthened for the second consecutive week. During the entire financial year, BSE Sensex registered a rise of 24.82 percent and NSE Nifty50 registered a rise of 28.61 percent. During the year, Sensex made a new record high of 74,245 points and Nifty made a new record high of 22,526 points.
First MPC of the Reserve Bank
With a new week for the market from tomorrow Monday- Along with this, the new financial year is also beginning. Many major developments are going to happen during this first week, which can directly impact the market. The first number among them is the meeting of the Monetary Policy Committee of the Reserve Bank. The first MPC for the financial year 2024-25 is starting from 3rd April and its results will be revealed on 5th April. RBI has not made any change in interest rates for more than a year.
These big developments in the week
Today, on March 31, along with the financial year, the last quarter also ends. It is happening. This means that the results season of the fourth quarter is also about to begin. If the quarterly results of the companies remain encouraging then the market sentiment will be strong. On the first date, vehicle companies will release sales figures for the month of March. During the first week, IPO market activities are being started with the IPO of Bharti Hexacom. A total of 10 shares, including big and small, are going to be listed on the market this week.
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