Indian stock market hit high record in history

Jul Tue 2023 04:28:27

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Indian stock market hit  high record in history

Kathmandu. A new record jump in the stock markets of neighboring India and Pakistan. On Monday, the Indian stock market has reached a new high in history, while in Pakistan, an unnatural growth that has never been seen has been seen on Monday.

India's Bombay Stock Exchange index Sensex closed at 65,205 points on Monday. In intra-day business, this indicator exceeded 65 thousand 300 points. These two figures are record levels in the history of the Indian stock market. The market had never reached that point before. India's other benchmark index Nifty Fifty has also stopped at a record high of 19 thousand 322 points. Nifty also touched a historic high of 19,345 points in Monday's intraday trade.

Even now, India is bringing crude oil from Russia and selling it in the European market. India is getting huge financial benefits from the role of such mediator. The Indian government is trying to prepare itself as a 'new China' i.e. an alternative to China's huge factories.

Seeing the rising potential of India, big companies from all over the world are excited to invest there. Due to such activities, the flow of foreign investment in the stock market has also increased rapidly. The Indian economy is estimated to be minimally affected by the current global recession.

India is becoming a new 'market of hope' for many investors due to strong economic data and global communication of hope. In India, shares like Reliance Industries, ITC and HDFC were very expensive on Monday. Along with this, shares of Bajaj Finance, State Bank of India, HDFC, Ultratech Cement, NTPC, HDFC Bank, Mahindra & Mahindra, Tata Steel, Bajaj Finserv and ICICI Bank have also gone up.

In Pakistan, another neighbor of Nepal, the major stock market index made a record jump on Monday. On Monday, the stock index rose by 2,442 points and reached 43,895 points. This increase in one day is the highest in the history of Pakistani stock market. In terms of percentage, this increase is the highest since 15 years (June 24, 2008).

Pakistan had an agreement with the International Monetary Fund to receive rescue aid of 3 billion US dollars for 9 months. After the agreement, investors got excited and the stock market jumped. Pakistan, which is imposing many restrictions due to lack of foreign exchange, may try to return to normalcy with this aid.