The government has given RBI a target of keeping inflation at the level of 4 percent with a 2 percent increase. In other markets of Asia, Japan and South Korea were benefited by Kospi.
The BSE Sensex closed above the 52,000 mark for the first time on Monday due to buying in the shares of financial companies amid the boom in global markets. The 30-share BSE Sensex jumped 609.83 points, or 1.18 percent, to close at 52,235.97. During the business, it had reached a record level of 52,235.97 at one time.
Similarly, the National Stock Exchange’s Nifty closed at a record high of 15,314.70 points with a gain of 151.40 points, or 1.0 percent. Axis Bank was the biggest gainer among Sensex stocks. It gained about 6 percent. Apart from this, ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC and Kotak Bank were also up.
On the other hand, the stocks which fell, include Dr. Reddy’s, TCS, Tech Mahindra, HUL and Asian Paints. Narendra Solanki, head of equity research, Anand Rathi, said, “The boom in other markets in Asia, especially Japan, had an impact on the domestic market. With the news of Japan’s economy growing 12.7 percent year-on-year in October-December last year, the Nikki 225 has crossed the 30,000 mark for the first time in more than three decades. “
He said that the business continued in the afternoon. The softening of inflation based on weekend consumer price index had an impact on the market. According to the data released on Friday last week, retail inflation stood at 4.59% in December 2020. This is the second consecutive month when the retail inflation rate is below the 6 percent ceiling.
The government has given RBI a target of keeping inflation at the level of 4 percent with a 2 percent increase. In other markets of Asia, Japan and South Korea were benefited by Kospi. The initial trend was positive in the major markets of Europe, which opened after noon by Indian time. Meanwhile, global oil standard Brent crude rose 1.30 percent to $ 63.24 a barrel.
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