Stock Market Update Today: Sensex rises 200 points before closing, Nifty crosses 24,500, know the condition of the market?

Business Desk – Stock Market Update Today: In the Indian stock market, BSE Sensex increased by about 200 points and reached the level of 78,500. At the same time, NSE Nifty 50 also strengthened by about 50 points and was seen trading at the level of 24,500. Maximum buying in the market was seen in IT Stocks and Banking Stocks, which provided support to the major indices. Investors are now keeping an eye on global signals and activities of foreign investors.

IT and banking stocks supported the market

Good buying was seen in shares of Information Technology (IT) and Banking sector in Tuesday’s trading. Due to the strength in both these sectors, the market was seen trading in positive territory. Market experts believe that if buying continues in these sectors, the market may show further strength during trading.

Mixed trend in Asian markets, most indices in red

Amidst the rise in the Indian market, the performance of Asian markets remained weak. Kospi (South Korea) was trading with a big fall of around 5.95%. Nikkei (Japan) recorded a decline of 1.27%. Hang Seng (Hong Kong) also remained weak by 0.35%. Despite the weakness of Asian markets, the effect of domestic buying was seen in the Indian market.

Positive signal received from American markets

On Monday, the American stock markets closed strongly, the effect of which was also visible in the early trading of the Indian market. The Dow Jones closed up 156 points (0.29%). Nasdaq closed with a rise of 288 points (1.12%). The S&P 500 gained 54 points (0.72%). The strength of US markets helped in keeping the sentiment of global investors positive.

Buying by foreign and domestic investors continues

If we look at the activities of investors in the stock market, in the last trading session, domestic institutional investors (DIIs) bought shares worth Rs 3,792 crore. At the same time, foreign institutional investors (FII/FPI) also made net purchases of Rs 243 crore.

Total net purchases by DIIs in the last seven days stood at Rs 6,781 crore, while net purchases by FIIs stood at Rs 146 crore. However, in the data of the last 30 days, foreign investors are still on net selling of Rs 17,768 crore. On the other hand, domestic investors have made strong purchases of Rs 58,648 crore during the same period.

The market had closed sharply on Monday also

Earlier on July 6 also, the Indian stock market had closed with gains. Sensex closed at 78,285, up 521 points. Nifty 50 closed at the level of 24,430 with a gain of 160 points. The strength in the market for the second consecutive trading session reflects the positive attitude of investors.