Tremendous U-turn in the stock market, Sensex rises 650 points after morning’s fall; enthusiasm returned among investors

Share Market Highlights: After the initial fall on Monday, the first trading day of the week, the Indian stock market closed in the green with a rise. Although the market had started flat with a fall, at the time of closing, BSE Sensex was at 83,277.15 with a rise of 650.39 points or 0.79 percent, while NSE Nifty was at 25,682.75 with a rise of 211.65 (0.83 percent). During this period, except Nifty Auto, almost all the indices were seen trading in the green.

In the broader market, Nifty Midcap rose 0.48 percent while Nifty Smallcap rose 0.11 percent. If seen sector wise, only Nifty Auto recorded a decline of 0.73 percent and Nifty Grossekt 15 recorded a decline of 0.12 percent. While Nifty Bank saw a rise of 1.27 percent, Nifty FMCG saw a rise of 0.82 percent and Nifty IT saw a rise of 0.17 percent.

Today’s Top Gainers and Losers

During this period, out of 30 Sensex stocks, only 9 stocks saw a decline. Shares of Power Grid, HDFC Bank, Axis Bank, NTPC, ITC and Asian Paints saw gains of up to 4.45 per cent. At the same time, shares of Tech Mahindra, Maruti Suzuki, Bajaj Finance, Trent, M&M and Infosys fell by up to 1.44 percent.

Reason for rise in domestic market

Major benchmarks of the domestic market (Sensex and Nifty) made a weak start on Monday amid mixed signals in the global markets. However, later the market witnessed fluctuations due to buying by investors. In the second part of the day, the market gained momentum and registered a gain of 600 points and was successful in closing on the green mark.

According to market data, foreign institutional investors (FIIs) sold shares worth Rs 7,395.41 crore on Friday. At the same time, domestic institutional investors bought shares worth Rs 5,553.96 crore.

Also read: Stock Markets Today: Market started weak, Sensex fell by 130 points and Nifty below 25,500.