Share Market Update: Pullback rally came from the stocks of these companies, know how many lakh crores was the BSE market cap…

By News Update On Dec 23, 2024

Share Market Update: Today, on the first trading day of the week i.e. 23rd December, the Sensex is trading at the level of 78,883.75 with a gain of more than 842.16 (1.08%) points. Nifty is also trading at the level of 23,854.90 with a rise of more than 267.40 (1.13%) points.

Positivity was seen right from the opening bell. Later, shares of index heavyweights Reliance Industries and HDFC Bank extended and strengthened the pullback rally. During this boom, the market cap of BSE listed companies increased by more than Rs 1.50 lakh crore to Rs 443.66 lakh crore.

weak inflation figures

In this boom, finance and IT stocks are seeing a rise. Due to weak inflation data in America, there was a rise in regional competitors.

The market's comeback rally was led by Nifty 50's HDFC Bank (HDFC Bank) and Reliance Industries (RIL), which gained 1.7 per cent and 1.1 per cent respectively. They were leading the rise on the benchmark.

Financial stocks were the biggest gainers on the benchmark. A rise is also being seen in some PSU shares. Purchasing is being seen again in the IT sector also.

After a major correction, many large-cap stocks are making a comeback by trading at their important support levels and this move is impacting the benchmark indices.

steel stock

The metal index rose 1 per cent after India's Directorate General of Trade Remedies initiated safeguard checks in imports of non-alloy and alloy steel flat products. Tata Steel rose 1.5 percent, while JSW Steel gained 1.8 percent.

Among other stocks, Indian Oil Corp shares rose 1.3 per cent after the state-owned company's board approved investment in a 50:50 joint venture with MCPI Pvt Ltd to set up a yarn project in Bhadrak, Odisha. .

Meanwhile, shares of Bharat Cements rose 11 per cent after the Competition Commission of India (CCI) approved the primary acquisition of UltraTech Cement and an open offer to acquire 32.72 per cent equity stake in the former.