Sensex opened with a gain of 350 points due to global support, JSW Steel shares jumped 4%

Share Market Opening 20 September: On the back of support from the global market, the domestic market started trading on the last day of the week with a profit. However, there is some pressure of profit booking at higher levels on BSE Sensex and NSE Nifty.

At 9:15 am, the Sensex opened with a gain of more than 350 points. Nifty also started with a gain of more than 100 points. At 9:20 am, the Sensex’s gain had come down to 175 points and it was trading near 83,370 points. At the same time, NSE’s Nifty 50 index was near 25,500 points with a gain of about 80 points.

Such signals were received before the market opened

There were indications of the uptrend continuing before the start of trading in the domestic market. In the pre-open session, the Sensex was trading above 83,600 points with a gain of about 420 points, while the Nifty had crossed 25,525 points with a gain of about 110 points. Before the market opened in the morning, the Nifty futures in GIFT City were trading at 25,525 points with a premium of about 35 points.

The market had slipped from its high level yesterday

Earlier on Thursday, the domestic market witnessed a good rally and the market was able to touch a new peak. In yesterday’s trading, the Sensex closed at 83,184.80 points with a gain of 236.57 points (0.29 percent). Before that, the Sensex had touched a new all-time high level of 83,773.61 points intraday. Later, the market fell from the high level due to profit booking pressure.

Nifty50 index also made a new record

NSE’s Nifty50 index also saw a good rise yesterday. After the end of trading, Nifty50 closed at 25,415.95 points with a gain of 38.25 points (0.15%). During the day’s trading, Nifty touched a new all-time high level of 25,611.95 points.

Cut in interest rates brightens the market

The US market rose on Thursday and the major indexes reached new highs. On Wall Street, the Dow Jones Industrial Average closed at 42,025.19 points with a gain of 1.26 percent. The Dow Jones closed above 42 thousand points for the first time in history. The S&P 500 index rose by 1.7 percent and the tech-focused index Nasdaq rose by 2.51 percent. The S&P 500 index crossed 5,700 points for the first time yesterday.

After the US Central Bank Federal Reserve cut the interest rate by 0.50 percent, the stock market is witnessing a great boom. The market was expecting a 0.25 percent cut from the Federal Reserve. The US Fed has cut the rate more than expected and has indicated further cuts.

There is also a boom in Asian markets

Today, on Friday, Asian markets are witnessing a strong rally. Japan’s Nikkei is up by a massive 1.9 percent, while the Topix index is trading at a gain of 1.63 percent. South Korea’s Kospi has risen by 1.45 percent and Kosdaq by 1.51 percent. Hong Kong’s Hang Seng index is showing signs of a bullish start today.

Condition of big stocks in early trade

In early trade, JSW Steel’s stock is leading the Sensex with a gain of about 4 percent. Stocks like Tata Steel, Mahindra & Mahindra have also gained more than 1 percent each. On the other hand, stocks like Axis Bank, Tata Motors, Titan are trading in losses.

Also read: After the reduction in interest rate, the US stock market made a record, this will be the effect on Sensex-Nifty!