Great comeback in the market, Sensex rose 889 points, Nifty also jumped!

Amid mixed signals from the global market, the Indian stock market closed in the green with a strong gain on Wednesday, the third trading day of the week. Meanwhile, major benchmarks of the domestic market witnessed a rise of more than 1.1 percent. This rise in the market has come after the previous day’s fall, in which IT stocks had a major contribution.

Sensex jumped 889 points or 1.16 percent to close at 77,654.60, while Nifty 50 rose 265 points or 1.10 percent to close at 24,250.20.

In the day’s trading, the 30-share BSE Sensex opened at 77,423.77 with a rise of 657.85 points or 0.85 percent from its previous close of 76,765.92 and at one point of the day it jumped 999.57 points or 1.30 percent to reach 77,765.49.

At the same time, Nifty 50 opened at 24,176.65 with an increase of 191.3 points or 0.79 percent from its previous close of 23,985.35, and at one point of the day it jumped 298 points or 1.24 percent and touched the day’s highest level of 24,283.55.

During this period, the broader markets also recorded good gains, with the Nifty Midcap 100 index rising by 0.82 percent, while the Smallcap 100 index rising by 1.48 percent.

Sector wise, all the indices except real estate closed in the green. IT, Media, Metal, Pharma, Telecom, Private Bank, FMCG and Consumer Durables indices gained 1-2 per cent each, reflecting broad buying across sectors.

In the Nifty 50 index, Jio Financial Services, Hindustan Unilever Ltd, Infosys, Hindalco Industries and Larsen & Toubro (L&T) were among the top gainers, rising over 2 per cent, while Mahindra & Mahindra (M&M), Power Grid Corporation, Eicher Motors, Bajaj-Auto, BEL, ONGC and HDFC Life were the top losers. Emerged as shares.

Meanwhile, investors made gains of Rs 4 lakh crore in a single session as the total market capitalization (market cap) of companies listed on BSE increased to more than Rs 483 lakh crore from Rs 479 lakh crore in the previous session.

Meanwhile, market expert Sunil Shah told news agency IANS that the stock market is gaining momentum and with the market mood improving, the benchmark index has risen by nearly 900 points.

He said that amidst the ups and downs here, we have seen some ‘value buying’ (buying at a good price).

The expert further said that as far as crude oil is concerned, it is at the level of 87, i.e. below 90. This is better than 100, but not as good as being below 70. So let’s see how this is resolved diplomatically. It will be good for us also.

Regarding the market’s expectations in the future, the expert said that it all depends on how the results season goes. Secondly, it also depends on the situation in West Asia and crude oil prices.