Stock market today: Nifty50 above 26,100; BSE Sensex up over 450 points

Stock marketplace today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied powerfully successful commercialized connected Monday. While Nifty50 was supra 26,100, BSE Sensex surged implicit 450 points. At 9:24 AM, Nifty50 was trading astatine 26,121.75, up 155 points oregon 0.60%.

BSE Sensex was astatine 85,401.92, up 473 points oregon 0.56%.This week marks the opening of the year-end festive play and volition beryllium shortened owed to the Christmas holiday.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “It appears that the marketplace is heading for a twelvemonth extremity rally. Two factors that tin accelerate this rally are the crisp reversal successful the rupee and the FIIs turning buyers successful the currency market.

These 2 factors which are mutually reinforcing tin trigger abbreviated covering successful the marketplace helping the benchmark indices to standard higher highs. The Goldilocks home economical acceptable up and the imaginable uptrend successful net maturation tin supply the cardinal enactment to the imaginable marketplace up move.

However, the precocious valuations volition restrain the rally and support the bulls successful check.”US stocks ended the week connected a affirmative enactment connected Friday aft a volatile start, arsenic a betterment successful exertion shares helped counterbalance important losses successful user stocks, specified arsenic Nike.

Asian markets opened higher, pursuing Friday’s gains successful US stocks, which bolstered expectations for a beardown year-end finish.Oil prices roseate connected Monday during the aboriginal trading hours successful Asia. This summation followed the US interception of a Venezuelan lipid tanker implicit the weekend.On Friday, overseas portfolio investors made nett purchases of shares amounting to Rs 1,830 crore. Domestic organization investors (DIIs) were besides nett buyers, with purchases totaling Rs 5,723 crore.(Disclaimer: Recommendations and views connected the banal market, different plus classes oregon idiosyncratic concern absorption tips fixed by experts are their own. These opinions bash not correspond the views of The Times of India)