Mars is Mars in the Indian stock market, Sensex reached 1,372, while Nifty climbed 399 points per cent, investors got a profit of Rs 8.5 lakh crore.

New Delhi. The Indian Stock Market closed with a strong rise on March 24. At closing, the Sensex closed at 74,068.45 with a gain of 1,372.06 points or 1.89 percent, while the Nifty rose by 399 points or 1.78 percent to reach 22,912. There was all-round buying in the market, where about 2,843 shares rose, 1,257 shares fell and there was no change in 152 shares. There was also a strong rise in midcap and smallcap stocks, with both the indices rising by about 2.6 per cent. During this period, investors gained a profit of about Rs 8.5 lakh crore.

Read :- Iran-US Ceasefire: Iran’s new supreme leader Mojtaba Khamenei accepts talks with America, claims in the report

Sectoral index and gainer loser
There was also strength on the sectoral front and all sectors like Auto, IT, Metal, Media, Banking, Consumer Durables, PSU Bank, Private Bank and Infra closed in the green, registering a growth of up to 2 percent. Top gainers on Nifty included Larsen & Toubro, InterGlobe Aviation, Asian Paints, Eternal and Bajaj Finance. The falling stocks included Coal India, Adani Enterprises, Sun Pharma, Cipla and Power Grid Corporation of India.

Why did the sentiment change in the market?

Amidst the increasing tension in West Asia, a big diplomatic news changed the mood of the market. According to the report of Saudi Arabia’s news website Al Arabiya, Iran’s new Supreme Leader Mojtaba Khamenei has agreed to talks and agreements with America. This positive news strengthened the confidence of investors, the effect of which was also visible on the stock market and a strong rally was seen in the market.

What is the expert’s opinion?
According to Vinod Nair, Head of Research, Geojit Investments Limited, the recent rally in the domestic stock market was a relief rally, which was supported by the news of a temporary pause in attacks on Iran’s energy infrastructure. This has raised hopes of some easing of tensions related to West Asia. However, there remains uncertainty regarding the Strait of Hormuz, on which investors are eyeing. Its impact on the supply chain is likely to be limited and it may affect the earnings of companies only for a maximum of 1-2 quarters. At the same time, strong fundamentals domestically are supporting the market. Monetary and fiscal policies are expected to improve demand, especially as global uncertainties subside.

Read :- There was an outcry in the Indian stock market, FPI withdrew ₹ 88,180 crore in March.

How was the market yesterday?

A big fall was seen in the stock market yesterday i.e. on 23 March. During this period, Sensex closed at 72,696 with a fall of 1837 points or 2.46 percent. Nifty also closed at 22,513 with a decline of 602 points or 2.60 percent. There was major decline in banking, auto, metal and FMCG shares during trading.