Share Market Today: The stock market is back, Sensex rises 448 points, Nifty very close to 26,000

Nifty Near 26000 Level: Today, the ongoing decline in the Indian stock market for the last few days has finally come to a halt. The beginning of the trading day of the week brought big relief for investors and both the major indices opened in the green.
Due to this strength in the market, there has been an improvement in the sentiment of investors and there is an all-round buying environment. Experts believe that global cues and activism by domestic institutional investors have supported the market.

Early gains in Sensex and Nifty

As soon as the market opened this morning, a tremendous rise was seen in BSE Sensex. Sensex jumped by 448.27 points to reach the level of 84,930.08. At the same time, NSE Nifty also did not lag behind and was seen trading at the level of 25,946.55 with a gain of 131 points.

Nifty is now very close to touching the psychologically important figure of 26,000. This surge in the market has brought a smile on the faces of those investors who were worried about the losses incurred in the previous sessions.

Performance of Bank Nifty and Midcap

Good activity was also seen in the banking sector today. Bank Nifty opened at 59,024 with a gain of 111 points or 0.19 percent. There was buying trend not only in big stocks but also in small-cap and mid-cap stocks.

The Nifty Midcap index opened 167 points or 0.28 per cent higher at 59,759, indicating that the bullishness in the market is broad based and investor confidence is returning across segments.

Today’s Top Gainers and Losers

Max Healthcare Institute and Tata Motors were the best performers in the Nifty 50 pack today. Along with these, heavy buying was also seen in shares of Reliance Industries, Jio Financial Services and Zomato (Eternal).

The rise in heavyweight stocks like Reliance played a big role in pushing the index higher. However, amid this greenery of the market, there was pressure on some stocks. Major stocks like Shriram Finance, Bharti Airtel and ICICI Bank witnessed slight decline in early trade.

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What is the market signal for investors?

Market experts say that today’s rise is mainly due to ‘short covering’ And this has come due to value buying at lower levels. The list of top movers included stocks like Axis Bank, State Bank of India and Reliance Industries which decided the direction of the market.

Although Nifty may face resistance near 26,000, but if it manages to cross this level, an even bigger rally can be expected in the coming days. Investors are being advised to continue investing in quality stocks while keeping an eye on global developments.