There was a tremendous rise in the Indian stock market on Wednesday (April 1). BSE Sensex jumped over 1,700 points in early trade, while Nifty 50 crossed the 22,800 level. At around 9:17 am, the Sensex was trading at 73,653.94 with a gain of 1,706.39 points or 2.37%. Upon opening, the index touched a high of 73,762.43 and also recorded a high of 73,847.08 during the day. At the same time, Nifty 50 also rose by 512.50 points or 2.29% to reach 22,843.90, in which 49 out of 50 stocks were seen trading in the green.
Confidence increased due to global signals
This rise has come after signs of easing tension in West Asia. Donald Trump indicated that the US may end military operations against Iran in the coming 2–3 weeks. This reduced the concerns of global investors and increased buying in the market.
Besides, the prices of crude oil also stabilized at around $105 per barrel, which has reduced the fears about inflationary pressure. The rise in Asian markets and strength in US futures also supported the Indian market.
Which stocks had the biggest rise?
Shares of many big companies registered gains in today’s rally. Shares of Trent Limited jumped nearly 6% and were the top gainer of Sensex. Apart from this, Bharat Electronics Limited rose by more than 4%.
Good buying was also seen in financial and infrastructure sectors. Shares of Bajaj Finance and Larsen & Toubro gained 3–4%.
In the aviation and logistics sector, shares of InterGlobe Aviation rose more than 3.5%, while Adani Ports and Special Economic Zone also gained more than 3%.
Banking and IT sectors also strong
In the banking sector, shares of State Bank of India, HDFC Bank and ICICI Bank rose by 2–3%. At the same time, positive trend remained in IT companies like Infosys and Tata Consultancy Services. In the auto and consumption sector, Maruti Suzuki India and Titan Company also supported the market rise.
Analysts believe that this surge is the combined effect of technical recovery and global relief signals after the huge fall in March. Analysts are also warning that market volatility may continue, as the situation in West Asia has not yet completely stabilized and the activities of foreign investors will also play an important role in determining the direction of the market.
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