- 'Dhantrayodashi' of investors before Diwali!
- 503 lakh crore in market capitalization in a single day
- Shares of private banks surged
Stock Market: On the Friday before Diwali, Dhanteras day, the stock market saw a big rally. At the end of the day, the Sensex closed up 1,718.01 points, or 2.17 percent, at 81,028.02, while the Nifty gained 493.75 points, or 2.01 percent, at 25,030.35. ( (Stock Market)
Sugar Price Hike : Will sugar become expensive again? Big demand for government to increase sugar rates; What are the reasons?
Seventh session of market closing bullish
This was the seventh consecutive session of market closes. During the period, the market capitalization of all companies listed on the Bombay Stock Exchange (BSE) increased by Rs 30 lakh crore to Rs 503 lakh crore from Rs 473 lakh crore on October 28. Private banks led the market rally. Among indices, Nifty Private Bank was the top gainer with a gain of 3.22 percent.
Nifty Financial Services rose 2.57 percent, Nifty Consumer Durables 1.70 percent, Nifty Services 1.63 percent, Nifty Consumption 1.29 percent, Nifty Pharma 1.21 percent, Nifty Commodities 0.84 percent, Nifty Infra 0.77 percent and Nifty Auto 0.76 percent.
But, Nifty Media fell by 1.52 percent, Nifty India Defense by 0.92 percent and Nifty Energy by 0.05 percent, while midcap and smallcap stocks traded mixed. The Nifty Smallcap 100 index closed down 157.40 points, or 0.82 percent, at 18,975.05 points, while the Nifty Midcap index was down 14.25 points, or 0.02 percent, at 60,606.65 points.
29 out of 30 stocks in Sensex closed higher
M&M, ICICI Bank, HDFC Bank, Titan, Axis Bank, Kotak Mahindra Bank, Tata Steel, NTPC, Adani Ports, Sun Pharma, L&T, Ultratech Cement, Bharti Airtel and Eternal were the top gainers. Only PowerGrid shares closed lower.
Indian stock market continues to boom
According to experts, Indian stock markets have maintained their bullishness despite the global downturn. This is because investors consider the domestic market as a safe option during periods of volatility abroad.
Big private banks have been the biggest beneficiaries of today's boom, experts added. Their strong liquidity and attractive valuations make them a natural choice for this investment. In addition, the weekly fall in crude oil prices, softening in US Treasury yields and the strengthening of the rupee further boosted investor interest in India.
Divyang Pension Scheme : Disabled children will get pension from birth! A big announcement from the government; How will anyone benefit?