Last week, the 30-share BSE Sensex gained 439.25 points or 1.01 per cent. It is known that the index has recovered the entire loss in the year 2020. It closed at 41,306.02 on January 1, 2020. However according to analysts, further market volatility will continue. Hence investors should be cautious.
Market will be affected by these factors this week
The stock market move this week will depend on the growing cases of corona virus and settlement of derivatives contracts. Due to this, the stock markets will remain volatile this week. Experts said that apart from news related to Kovid-19 vaccine, discussion of incentive measures in the US and global trend will determine the direction of the market.
Such was the situation of veteran shares
Talking about the big stocks, today the shares of Adani Ports, Axis Bank, HDFC Bank, Eicher Motors and Hindalco closed on the green mark. On the other hand, HDFC, Titan, BPCL, Nestle India and GAIL shares closed at the red mark.
Sectoral index tracking
If we look at the sectoral index, then all the sectors closed on the green mark today. These include PSU Bank, Bank, Private Bank, Finance Services, Pharma, Media, FMCG, IT, Realty, Metal and Auto.
NSE declared Karvy Stock Broking as defaulter
NSE has declared Karvy Stock Broking a defaulter for not complying with regulatory provisions. In a circular issued on Tuesday by NSE, it has been said that besides this, the membership of the exchange of Karvy Stock Broking has been terminated. The circular states that this order is effective from 23 November. NSE said that the broker company has failed to comply with the guidelines of the exchange.
Under the guidelines, stock brokers are required to fulfill their commitments. Apart from this, they cannot conduct any indiscipline or unprofessional behavior. Earlier, Karvy had illegally misused the power of attorney given by the customers and transferred his securities to his demat account. After the matter came to light, the Securities and Exchange Board of India (SEBI) had banned Karvy from acquiring new brokerage clients. The brokerage company has allegedly misappropriated securities worth over Rs 2,000 crore of its clients.
Market was open on green mark
Today the stock market was open on the green mark. The Sensex opened at 44351.82, up 274.67 points (0.62 per cent). The Nifty started at 13010 with a gain of 83.50 points (0.65 per cent). The Nifty crossed the 13000 mark for the first time.
The market had gained momentum on the previous trading day
The stock market had closed higher on the previous trading day on positive global cues. The Sensex gained 0.44 percent to close at the level of 44077.15, up 194.90 points. The Nifty closed at the level of 12926.45 with a gain of 0.52 per cent (67.40 points).