Stock Markets continues one day losses and next day recovery on 31st January, 2024 too. Before the announcement of US Federal Reserve new interest rates and interim budget by Indian Union government traders invested in big stocks. HDFC Bank and Reliance shares have rallied. Hence, BSE gained 612.21 points to close at 71,752.11 and Nifty gained 203.60 points to close at 21,725.70 mark.
BSE Sensex started trading at 71,073.04 mark and then continued to trade between 70,846.04 to 71,851.39 range. Index started lower than previous closing and dropped at the start further. Mid-session traders started investing in big stocks and gained upto 1000 points. Finally, BSE ended the trading session at 71,752.11 by gaining 612.21 points.
Nifty Sensex started trading at 21,487.25 mark and it hit highest for the day at 21,741.35. Nifty50 hit the lowest at 21,448.85. Index started low and started registering gains with huge rallies in big stocks. Throughout the session traders did not lose faith. Hence, Nifty50 ended by gaining 203.60 points on 21,725.70.
Indian Rupee traded at Rs.83.04 against US Dollar on 31st January, 2024. Except for L&T, Titan shares everyone has ended up registering gains in the markets. This volatility is surely going to confuse new traders while experienced are waiting to see how the fed rates and budget plays out. Stock Markets will see this kind of pattern for few more days, say experts.
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