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Stock Market Record High : The stock market was successful in reaching a record high on Monday. Many reasons are being considered behind the boom in the market. Inflation figures in the US were good in the month of June. Due to this, it is expected that the US Federal Reserve may ease the interest rates a bit. The US Fed meeting will be held on 30 and 31 July.
PSU bank shares rise
Bank results are also considered to be one of the reasons behind the rise in the stock market. ICICI Bank, Punjab National Bank, and Bandhan Bank have given better results than expected. Today, PSU banks have also seen a rise due to this reason. Shares of Punjab National Bank were able to jump 5 percent after strong quarterly results were released.
This is also one of the reasons behind the rise in the stock market
Apart from all this, the US 10-year bond yield fell to 4.17 percent. At the same time, Brent crude oil is being sold at $ 81.20 per barrel. Due to these reasons, the stock markets have also seen a rise. Let us tell you, that FPI investment was Rs 33,688 crore in June. Which can be considered a good sign.
The market fell after reaching a record high.
The BSE Sensex was successful in reaching a record high today. The Sensex reached a record high of 81,908.43 today. At the same time, Nifty 50 reached a record high of 24,999.75 on Monday. However, after reaching a record high, the stock market witnessed a decline. The Sensex closed at 81,355.84. At the same time, Nifty-50 closed at 24,836.10 with a gain of 1 percent.
(This is not an investment advice. The stock market is subject to risks. Please seek expert advice before making any investment.)
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