G20 Stock Market

Nifty crosses 20000, G20 sweetens market mood

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Nifty crosses 20000 for the first time. It was in consolidation mode in the month of August. However, it has shown a remarkable recovery in the month of September. Today the Nifty 50 went up almost one percent, a 176-point upside.

I observed, that after the landing of Chandrayaan 3, the market started going up. Nifty made a one-month low of 19223.65 on 31 August 2023. After that, the Nifty 50 index has continuously started growing resulting in making an all-time high today.

Did G20 make the market sentiment positive

I think it all happened because of world-level events like the Chandrayaan 3 moon landing on the south pole equator and the G20 event.

It has made the market sentiment positive.

The top gainer of Nifty today was Adani Ports, it moved up to 887.20. It closes on a price of 882.45, a 6.96% upside from yesterday’s low. I sold the Adani Ports stock today with a 3% upside. I did BTST on it.

I bought it at 833.47.

The top loser was Jio Financial. It reached a low of 250 and closed at 250.15, a 1.20% down from the previous close. However, it made a high of 257.70 in the today’s trading session.

The top-heavy weights like Reliance, ITC, and HDFC Bank made an upside of 1.08%, 1.03%, and 0.52% today.

The market was in a completely bullish mode today.

Let’s see what happens tomorrow, if it sustains above 20000 or not. However, today it closed below 20000 at 19,996.35.

I sold Shree Renuka today as well with a profit of 2 per cent. I hope it doesn’t go up tomorrow. Therefore, I can buy it again if it goes down.

On NSE, 1134 closed in green today whereas 943 closed in red. \

Thanks for reading.

Read: IS CHINA’S SLOWING FERTILISER EXPORTS GOOD OR BAD FOR INDIAN COMPANIES’S SHARE PRICES

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Saifullah Khan

Hi there, I am the author of gloomyworld.com, read more about me here.

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