The 3-day ongoing decline in the stock market stopped, Sensex rose by 938 points, know the condition of Nifty.
Mumbai. The local stock markets on Monday ended their ongoing decline in the last three trading sessions and BSE Sensex rose 938 points, while NSE Nifty crossed 23,400 points. The market got support from buying at lower levels in shares of major companies. BSE Sensex based on 30 shares closed at 75,502.85, up 938.93 points or 1.26 percent. During trading, it reached a high of 75,805.27 points and reached a low of 73,949.76 points.
At the same time, NSE Nifty based on 50 shares rose by 257.70 points or 1.11 percent and closed at 23,408.80 points. Among the Sensex stocks, UltraTech Cement gained the most by 4.22 percent. Apart from this, Trent, HDFC Bank, Mahindra & Mahindra, Eternal, Bajaj Finance, ITC, Tata Steel and State Bank of India were major gainers. On the other hand, loss-making stocks include Bharat Electronics, Sun Pharma, Power Grid and Bharti Airtel.
Geojit Investments Ltd. Vinod Nair, head of research, said, “Buying at lower prices in shares of automobile, bank and daily use goods companies led to a rise in the stock market at the end of trading…” Nair said, “Investors’ attitude in the near future will depend on the developments in the Strait of Hormuz.” The market may get further support due to reduced adverse impact on the supply chain.
In other markets of Asia, Japan’s Nikkei and China’s Shanghai Composite closed with a decline, while South Korea’s Kospi and Hong Kong’s Hang Seng remained on the rise. European markets were down in afternoon trading. US markets closed with a decline on Friday. Global oil benchmark Brent crude rose 1.41 percent at $104.4 per barrel.
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 10,716.64 crore on Friday. However, domestic institutional investors (DIIs) bought shares worth Rs 9,977.42 crore. On Friday, the Sensex fell 1,470.50 points or 1.93 percent and closed at 74,563.92 points, while the Nifty fell 488.05 points at 23,151.10 points.
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