On Monday, the domestic stock markets’ three-session-long decline came to a stop. After passing 60,000, the Sensex ended. Nifty also increased by more than 1%. Investing in IT firms has a positive influence on the global economy.

In response to investments in Reliance Industries and technology firms and a rising trend in international markets, the Sensex increased by 846.94 points, or 1.41 percent, to settle at 60,747.31. In the course of the day’s trading, it increased by 989.04 points, or 1.65%, to reach a level of 60,889.41. Similarly, the Nifty finished at 18, 101.20, an increase of 241.75 points or 1.35%.

To reach ₹ 282.99 Lakh Crores, the overall market capitalization of listed firms surged by more than ₹ 3.24 lakh crores. The report shows that foreign institutional investors sold shares on Monday totaling ₹ 203 crore. Asian markets continued to be beneficial for South Korea’s KOSPI, China’s Shanghai Composite, and Hong Kong’s Hang Seng. The markets in America and Europe also saw growth. A barrel of Brent crude now costs $80.67, a 2.67% increase.

The LTP Calculator Option Chain indicates that the resistance for the Nifty’s weekly range is 18,216, while the support is 17,768. Investors should be mindful of these considerations.

There Are Some Primary Causes For The Boom: 

1. With activity reduction, US wage growth is slowing down and service inflation is anticipated to decline.
2. Despite better-than-expected December employment growth, the Fed Reserve may adopt a more bearish approach.
3. The US Market Wall Street rose. The domestic stock markets felt the impact.
4. IT firms are anticipating outcomes. The sector is now more optimistic following a successful conclusion in the US.
5. In relation to the dollar, the rupee gained 29 Paise.

Gold And Silver Costlier, Rupee Strengthened

Due to an increase in the price of precious metals on the world market, gold increased in price by ₹ 733 on Monday, closing at ₹ 56,380 per 10 kilos. Additionally, the price of silver increased by ₹ 1,012 to settle at ₹ 69,834 per kg. On the world market, one ounce of gold was selling for $1,875. Silver’s price per ounce stayed at $23.92.

On Monday, the rupee gained 29 Paise to end the day at 82.35 versus the dollar. The rupee was boosted by declines in the American dollar abroad and advances on the home share market. The Interbank Foreign Exchange market’s opening price for the local currency was ₹ 82.41. During the day, it stayed between ₹ 82.25 and ₹ 82.44.