Mumbai. Despite Corona’s deepening havoc in the country, the stock market was seen out this week. Strong buying by strong global cues led to the domestic stock market bombing and the key sensitive index Sensex closing back above 50,000. The Nifty also jumped nearly two and a half per cent over the previous week.
The Indian stock market traded only three days this week due to the holidays of Holi and Good Friday, with one day showing disappointment on Dalal Street under profit-booking pressure and the domestic stock market remained strong for the remaining two days. The stock market was buzzing on the first day of the new financial year 2021-22.
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The 30-share Sensex Sensex based on the Bombay Stock Exchange (BSE) closed at 50,029.83, up 1,021.33 points or 2.08 per cent from the previous week on Thursday in the last session of the week. The Nifty, a sensitive index based on 50 stocks of the National Stock Exchange (NSE), gained 360.05 points or 2.48 per cent to close at 14,867.35 over the previous week.
The BSE Mid-cap index closed at 20,516.40, up 546.03 points or 2.73 percent from the previous week, while the Smallcap index jumped 792.73 points or 3.91 percent to 21,071.69 from the previous week.
The stock market of the country remained closed due to the holiday of Holi on Monday in the beginning of the business week. On Tuesday, the Sensex closed 1128.08 points or 2.30 percent higher at 50,136.58 from the previous session and the Nifty also gained 337.80 points or 2.33 percent to 14,845.10 from the previous session on Tuesday. .
However, on Wednesday, the Sensex lost 627.43 points, or 1.25 per cent, to close at 49,509.15 from the previous session, and the Nifty also slipped 154.40 points or 1.04 per cent to 14,690.70 from the previous session on Wednesday.
On Thursday, on the first day of the new financial year 2021-22, the domestic stock market returned to buying again on strong global cues and the Sensex rose by 520.68 points, or 1.05 per cent, to close at 50,029.83 from the previous session, while the Nifty gained 176.65 points or 1.20 per cent from the previous session. Closed at 14,867.35.
After the announcement of spending more than two trillion dollars on infrastructure in the US, there was a surge in the global stock market, which indicated that the Indian stock market is also trending fast. At the same time, the increase in the GST collection also supported the boom of the domestic market share.
The Goods and Services Tax (GST) collection in the country reached a record level of Rs 1,23,902 crore in the last month of March of the last financial year.
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