Friday morning has brought a big relief for investors troubled by the ups and downs of the stock market. On the last trading day of the week, such enthusiasm returned to the market that the fear of the previous day’s selling disappeared in a moment. As soon as the market opened on Friday, May 22, Sensex and Nifty made such a huge jump that investors’ wealth increased drastically within minutes.
The market reached the green mark in a few moments
As soon as trading started on Friday morning, all-round buying was seen on Dalal Street. Bombay Stock Exchange (BSE) benchmark index Sensex jumped by about 477 points from its previous closing to reach a high of 75,660.17. Seeing this trend of the market, retail investors have heaved a sigh of relief.
Similarly, Nifty of National Stock Exchange (NSE) also did not lag behind. A rise of about 130 points was recorded in Nifty, due to which it managed to touch the high level of 23,784.75. This gain completely washed away Thursday’s sluggishness, where the Sensex fell 135.03 points (0.18 percent) to 75,183.36 and the Nifty closed with a slight fall at 23,654.70.
Rs 1.90 lakh crore came into the hands of investors
This stormy market boom has had a direct and positive impact on the pockets of investors. In terms of data, when the market closed on Thursday, May 21, the total market capitalization (market cap) of all the companies listed on BSE was Rs 4,61,53,456.249 crore.
Market cap jump: Within a few moments of market opening on Friday, this figure went up like a rocket and reached Rs 4,63,43,456.93 crore. In just a few minutes of trading, investors’ wealth has increased by more than Rs 1.90 lakh crore.
Rupee strengthened against dollar
Along with the stock market, there are good signals for India from the currency market too. The Indian Rupee, which has been facing a record decline for the last few days, now seems to be gradually recovering. During early trade, the rupee strengthened by 6 paise to reach 96.30 against the US dollar.
Let us tell you that on May 20, the rupee had seen the lowest level in its history i.e. 96.95 per dollar and later it closed at 96.86. But on Thursday, due to the news of possible intervention of the Central Bank (RBI) and reduction in geopolitical tension, a big improvement of 50 paise was seen in the rupee, which continues even today. On the other hand, the prices of Brent crude in the international market are currently trending at $ 103.99 per ounce, which will play an important role in determining the market movement in the coming days.
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