Sensex surges 300 points, Nifty poised to cross 24,100; GRSE shares witness a massive rally. Sensex jumped 300 points, Nifty ready to cross 24,100, GRSE shares witnessed a stormy rise. – ..

In the Indian stock market today, on the trading day of the week, the faces of investors are smiling. The market has gained tremendous momentum on the basis of strong global signals from all sides and all-round buying by domestic institutional investors. Since this morning, Bombay Stock Exchange (BSE) index Sensex and National Stock Exchange (NSE) Nifty are trading with gains. According to the latest data, Sensex has seen a jump of more than 300 points, while Nifty is moving fast to touch the very important psychological level of 24,100. Due to this bull run of the market, there is a lot of activity in Dalal Street and strong buying is being seen in shares of many sectors.

Explosion in defense sector and 5 percent jump in GRSE shares

The biggest highlight of today’s market has been the defense and shipbuilding sector giant Garden Reach Shipbuilders and Engineers Limited (GRSE). In anticipation of new orders received by the company and strong quarterly results, today GRSE shares have seen an upper circuit or a big jump of more than 5%. The rise in the stock of this Kolkata-based government defense PSU has made the entire defense basket green. Other related stocks like Mazagon Dock and Cochin Shipyard are also witnessing huge interest from investors since this morning, which has strengthened the sentiment in this sector.

Maximum buying and growth is visible in these sectors

Today, banking, IT and automobile sectors have the biggest contribution in taking Sensex and Nifty higher. The index has received good support from the return of buying in shares of big heavyweight companies like HDFC Bank, Reliance Industries, Infosys and ICICI Bank. Along with this, according to the reports coming from the regional broking offices of various states and metros of the country like Mumbai, Delhi, Bengaluru and Kolkata, retail investors are also investing heavily in smallcap and midcap stocks today. The positive trend from global markets, especially American and Asian markets, has further fueled this rally.

Will Nifty be able to create a new record by crossing the level of 24,100?

Market experts and technical analysts believe that if Nifty manages to stay firmly above the level of 24,100 today, then more huge short covering may be seen in the market in the coming days. Investors’ eyes are now focused on the stance of foreign portfolio investors (FPIs) and crude oil prices in the afternoon. At present, the overall outlook of the market seems quite positive and the buying at lower levels is clearly indicating that investors’ confidence in the Indian economy remains strong.