Market Outlook: Market at new peak in 3 weeks rally, now it will move like this

Market Outlook: Market at new peak in 3 weeks rally, now it will move like this

The bullish trend in the domestic stock market is continuing for three consecutive weeks. In this rally that has been going on for three weeks, the market has registered a spectacular rise. Especially last week proved to be very special. During this period, both the major indices BSE Sensex and NSE Nifty were successful in making their respective new historical high levels.

Special trading took place in the market on Saturday

Last week was special for another reason. became. During the last week, the market traded for six days. Generally the market remains closed on Saturdays, but this time trading took place in the market on Saturday 2nd March also. A special session was organized on BSE and NSE on Saturday for testing the disaster recovery website. In Saturday's special trade, the Sensex closed at 73,806.15 points with a rise of 1,305.85 points (1.80 percent). Whereas Nifty strengthened by 395.60 points (1.80 percent) and stood at 22,378.40 points.

Sensex-Nifty at new high level

In Saturday's trading, both Sensex and Nifty hit their new historical high level. made. During trading, the Sensex at one time reached 73,819.21 points. Now the market is a few steps away from achieving the level of 74 thousand points for the first time. Nifty made a new all-time high level of 22,419.55 points on Saturday.

Market rose so much in 3 weeks

During the entire week, Sensex rose by 664 points, while Nifty rose by 166 points. Was in benefit of. Before that, in the week ending February 23, the Sensex had strengthened by 815.48 points or 1.13 percent. Nifty also increased by 140.95 points or 0.64 percent. In the week before that, both the indexes had increased by more than 1 percent each. In the last 3 weeks, the Sensex has become stronger by more than 2500 points.

The movement will be decided by these factors

Last week, the domestic market got support from the excellent GDP figures. In the third quarter, the Indian economy grew at the rate of 8.4 percent, which was better than all estimates. After that, tremendous growth was recorded in the market on both Friday and Saturday. Many economic figures are going to be released during the coming week also. Service PMI figures will come in the new week. In the next 5 days, 8 new IPOs are being launched, while 7 new shares are going to be listed. The market can also be affected by the attitude of FPI, movement of global market and fluctuations in crude oil and dollar.

Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. never advises anyone to invest any money.

Also read: 1 crore new investors came in just 5 months, figure on NSE crosses 9 crores

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