Stock market breaks all records, for the first time, the Sensex crosses 41 thousand
Mumbai, Nov 26 (HS): Due to reports of consensus between the US and China on the ‘Trade War’, the stock markets around the world have returned to awe. The effect of these signals is also being seen on the Indian Stock Market Live. Both the major benchmark indices Sensex-Nifty have reached their all-time high. Sensex Live, the 30-share BSE leading index, is currently trading at a new peak of 41,073, up 183 points (10:10 AM). At the same time, the 50-share NSE Nifty is at 12,118 level. For the first time, the SENSEX has crossed the key level of 41 thousand.
In 2019, Nifty is continuously making new records. After 3 June 2019, on 26 November, the Nifty has again reached the record level.
Asif Iqbal, head of research at Escort Security said that the impact of the boom in global markets is visible on the domestic stock market. Also, Indian markets are now looking very attractive for investment. Small investors can place bets on stocks of companies with good fundamentals.
Escorts have been the favorite share of the country’s big investor Rakesh Jhunjhunwala. This company manufactures tractors. Jhunjhunwala bought 50 lakh shares of the company in the September quarter of 2013. In 2015, he increased his stake in Escorts to 1.12 crore shares. After this, he sold 12 lakh shares and kept 1 crore shares with him. Jhunjhunwala owned an 8.16 percent stake in the company till the December 2017 quarter.
In September 2013, Escorts shares were trading at 80 rupees. Accordingly, the value of 50 lakh shares were about 40 crores. The current value of Escorts shares is Rs 648. Accordingly, the value of 50 lakh shares was Rs 324 crore. That is, in just 6 years, Rakesh Jhunjhunwala made a profit of 284 crores from the shares of escorts.
However, In the last one year, Escorts shares have fallen by 2%. In the current slowdown, the auto industry has been hit hard. Shares of companies such as M&M, Ashok Leyland, Bharat Forge, Hero MotoCorp, TVS Motor Company, and Tata Motors have fallen by 10 percent in the last year.
