Nifty crosses 24,000 level, Sensex rockets up by 500 points; Heavy fall in Dr. Reddy’s shares Nifty crosses the 24,000 mark; Sensex surges 500 points; Dr. Reddy’s shares witness a sharp decline. – ..

Today, there is tremendous enthusiasm in the Indian stock market. There is a buying environment in the major indices of the market since this morning, which has increased the enthusiasm of the investors. Bombay Stock Exchange (BSE) Sensex is trading 500 points higher today, while National Stock Exchange (NSE) Nifty has crossed the psychological level of 24,000. Global signals and activism of domestic institutional investors are being considered as the main reasons behind this positive trend of the market. This rise in Sensex and Nifty has created confidence among investors, due to which select midcap and largecap stocks are also seeing a rise.

Reason for market rise and new level of Nifty

Market experts believe that Nifty staying above 24,000 is a strong sign. If the market maintains this momentum, new higher levels may be seen in the coming days. Banking, IT and auto sectors have contributed significantly to the 500-point rise in Sensex. During this bullish market, profit booking is also going on in selected stocks, but the overall market sentiment remains ‘bullish’. Investors are being advised to remain alert during any major movement in the market and manage their portfolio carefully.

Dr. Big fall in Reddy’s, investors’ concern increased

While on one hand there is greenery in the market, on the other hand the shares of leading pharma company Dr. Reddy’s Laboratories are facing huge pressure today. The company’s shares have fallen by about 6 percent in today’s trading session. The main reason behind this decline is being said to be the negative news going on in the market and expectations related to quarterly results. Due to this sudden decline, there is a situation of confusion among the investors of the pharma sector. However, market experts say that before taking any investment decision, definitely look at the fundamentals and technical charts of the company.