Indian stock market closed in the green, Sensex jumped 899 points!

The Indian stock market closed in the green in Thursday’s trading session. At the end of the day, Sensex closed at 80,015.90 with a gain of 899.71 points or 1.14 per cent and Nifty closed at 24,765.90 with a gain of 285.40 points or 1.17 per cent.

Defense stocks helped in boosting the market. Among the indices, Nifty India Defense was the top gainer with a gain of 2.55 per cent. After this, Nifty Metal (2.29 percent), Nifty PSE (2.22 percent), Nifty Infra (2.21 percent), Nifty Consumer Durables (2.10 percent), Nifty Commodities (2.05 percent) and Nifty Energy (1.92 percent) closed with gains.

Only the Nifty IT index closed with a weakness of 0.59 percent.

Along with largecap, tremendous growth was seen in midcap and smallcap. The Nifty Midcap 100 index was at 57,792.55, up 867.40 points or 1.52 per cent, and the Nifty Smallcap 100 index was at 16,538.80, up 257.30 points or 1.58 per cent.

Adani Ports, L&T, NTPC, BEL, Indigo, M&M, Power Grid, Maruti Suzuki, Tata Steel, Bajaj Finance, Sun Pharma, UltraTech Cement, Bajaj Finserv, Kotak Mahindra Bank, HDFC Bank, Titan, Trent, Asian Paints and Bharti Airtel were among the gainers in the Sensex pack. Tech Mahindra, HCL Tech, HUL, ICICI Bank, SBI, Infosys, Eternal, TCS, ITC and Axis Bank were the losers.

According to market experts, the reason for the rise in the stock market is value based buying by investors at lower levels. Investors have bought heavily in metal, government shares and infra related shares. Besides, the big rally in global markets has improved the domestic market sentiment.

Apart from this, the reason for buying in the market is being considered to be the decline in India Vix, which fell by 15.56 percent in the session and closed at 17.85. India Vix shows stability in the market, a decline in it is considered positive for the market.