Stock market update at 3 PM: Due to selling in heavyweight stocks like Reliance and L&T, the benchmark index BSE Sensex and Nifty came in red mark after 50 afternoon. The Sensex broke around 200 points while the Nifty was trading close to 22,450.
Stock market update at 1 PM: The domestic stock market is witnessing a boom today (March 10 is trading at 74,583 with a strong trend in the Asian markets and the rise in metal and FMCG shares. The Sensex was trading more than 250 points to 74,583. At the same time, the Nifty-50 was trading at 22,609.85, climbing 57.35 points to 22,609.85.
Stock market fast start
Opening Bell: The strong trend in Asian markets and purchases in power and utility shares led to a boom in the major share indices Sensex and Nifty on Monday. During this period, the 30 -share BSE Sensex was up 324.67 points or 0.44 percent to 74,657.25. Similarly, NSE Nifty rose 98.45 points or 0.44 percent to 22,650.95.
The Sensex shares led to a significant rise in Power Grid, Bajaj Finance, Bajaj Finserv, NTPC, Hindustan Unilever, Adani Ports, Bharti Airtel, Nestle India, HCL Technologies and Infosys.
On the other hand, IndusInd Bank, Mahindra & Mahindra, Jomato, Titan, Larsen & Tubero and Maruti Suzuki India declined.
Sensex’s P/E Below Multiple Dow Jones
The evaluation of India’s stock market has become cheaper from the US stock market after a long time due to selling for the last five months. Sensex’s price-to-earning (P/E) Multiple has come down from the Earning Multiple of Industrial Average for the first time since 2009.
According to Bloomberg data, the Sensex is currently trading on P/E multiple of 21.8 times against the last 12 months per share income (EPS), while it was 23.8 times at the end of March last year. On the other hand, Dow Jones Industrial Average is trading at 22.4 times P/E, which was 22.8 times in March 2024.
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Mixed trend in Asian markets
On Monday, a mixed trends were seen in the Asian markets, as the global markets had ups and downs in the last week.
Japan’s Nikki 225 index rose by 0.3%, while the topics index was doing a flat business. Australia’s S&P/ASX 200 index rose 0.24%, which closed at a six -month high in the previous season. South Korea’s Kospi index strengthened 0.5%. While Hong Kong’s Hang Seng index fell 0.58%.
US stock market boom
On Friday (March 7), Wall Street’s leading index closed up with an edge after the ups and downs. The S&P 500 index rose 0.55% to 5,770.20, while the Nasdaq Composite rose 0.7% to close at 18,196.22. At the same time, Dow Jones Industrial Average touched a level of 42,801.72 with a gain of 222.64 points (0.52%).
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Global trend, economic data will determine the direction of the market
Senior Vice President of Railor Broking Limited-Dodh Ajit Mishra said, “The upcoming business week will remain small due to holidays and market partners will closely monitor global developments in the absence of major domestic events. These factors include fee talks, geopolitical stress and US dollars and crude oil prices move.
He said, “Foreign institutional investors (FIIs) have slowed down their selling in cash markets, but any change in their attitude will remain an important indicator for the market direction.”
Mishra said that on the Cast Economic Front, the Industrial Production Index (IIP) and Consumer Price Index (CPI) inflation data will be closely monitored. The stock markets will be closed on the occasion of Holi on Friday.
How was the market move in the last session?
The domestic stock market was almost flat closed on the previous trading session i.e. Friday (March 7). The BSE Sensex closed at 74,332.58 with a slight decline of 7.51 points or 0.01%. On the other hand, the Nifty of the National Stock Exchange (NSE) had risen at 50 7.80 points or 0.03% to close at 22,552.50.
(With PTI’s input)
First Published – March 10, 2025 | 7:51 am IST
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