Stock market updates on February 05. (Representative image)
Stock Market Updates: Last week, the BSE benchmark jumped 1,384.96 points or 1.95 per cent, and the Nifty climbed 501.2 points or 2.34 per cent.
Stock Market Updates:
On February 5, Sensex climbed 193.43 points to 72,279.06 in early trade. Nifty went up 51.15 points to 21,904.95.
There are expectations for a lower opening in the benchmark Sensex and Nifty indices, influenced by the negative indications from the GIFT Nifty trends, pointing towards a 31-point decline in the broader index.
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Although the market witnessed substantial gains on February 2, marked by the Nifty reaching a record high of 22,126.80 and the Sensex surging by over 1,400 points, the benchmarks relinquished some of these gains to conclude below the day’s peak.
Last week, the BSE benchmark jumped 1,384.96 points or 1.95 per cent, and the Nifty climbed 501.2 points or 2.34 per cent.
On Friday, the Nifty reached its lifetime peak of 22,126.80.
This Week’s Trends
The market focus will be on the ongoing Q3 FY24 earnings season, with many companies announcing their results in the coming days such as Ashok Leyland, Bharti Airtel, Apollo Tyres, Nestle, Grasim, LIC, said Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI’s interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts.
(With PTI inputs)
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