- Nifty had closed at 14,634 on May 3. It closed at 15,606 on 31 May.
- It is estimated about the market that by December, the Sensex can cross 61 thousand.
The Indian stock market has performed better than the major markets of the world in the month of May. The National Stock Exchange i.e. Nifty has given 6% return to investors during this period. Nifty had closed at 14,634 on May 3. It closed at 15,606 on 31 May.
There is a constant fluctuation in the Indian stock market in May. The Nifty touched the figure of 15,606 on Monday, which is its highest level ever. However, it was closed at the level of 15,582 at the time of closing. With this, the entire market cap of the Indian market has also reached close to Rs 223 lakh crore. The market has performed well when foreign investors are continuously withdrawing money.
FII withdrawing money
Statistics show that in the month of April, foreign investors (FIIs) pulled out Rs 9,659 crore from the Indian equity market, while since May they have withdrawn Rs 2,954 crore. They have withdrawn Rs 17,322 crore from the debt market. Talking about the entire calendar i.e. from January till now, he has invested Rs 43,129 crore in equity.
Market speed in contrast to trends
There is a trend that the market performs poorly if FIIs withdraw money, but in April and May the market has performed better. According to analysts, Nifty can go up to 15,800 in this week. While the BSE Sensex has crossed 52 thousand. The Sensex had crossed the 52,104 mark on 16 February and on Monday it crossed 52 thousand.
GDP numbers fall
On Monday, GDP figures came out. It fell more than 7% throughout the year. However, it increased by 1.6% during January to March. Among the world’s major markets, the Brazilian market gave a return of 5.82% in the month of May, while the Chinese market gave a return of 4.89%. The French market gave 3.29, Germany market 2.22, US market 1.93, Korea market 1.78 and Hong Kong market gave 1.49% return. The South African market has also given returns of more than 1%.
It is estimated about the Indian market that the Sensex may cross 61 thousand by December. In such a situation, the Nifty may be closer to 19 thousand. Also, the market cap can also touch Rs 230 lakh crore.