Big blast in the stock market! Sensex jumps more than 600 points, IT shares shine as Nifty crosses 23,950

Bulls are completely in control of Dalal Street since this morning. The domestic stock market has once again made a spectacular comeback in the week’s trading session. On the basis of all-round buying, the benchmark index Sensex of Bombay Stock Exchange (BSE) is trading in a strong position with a jump of almost 600 points. On the other hand, the Nifty 50 index of the National Stock Exchange (NSE) has also crossed the psychological level of 23,950, creating a new bullish record. This sudden rise in the market has resulted in a huge increase in the wealth of investors and the laziness that has been going on for the last few days has completely disappeared. Strong signals from the global market fueled the market. The main reason behind this huge rise is the positive signals coming from the international markets. The strength in American markets and return of greenery in Asian markets have boosted the sentiment of Indian investors. Apart from this, reduced selling pressure from foreign institutional investors (FIIs) and continuous buying by domestic institutional investors (DIIs) have provided strong support at the lower levels of the market. Stability in the prices of crude oil has also proved to be a big plus point for the Indian economy and the domestic equity market. The shares of the IT sector are back in high spirits; in today’s bullish maze, the country’s IT (Information Technology) index is running at the forefront. IT stocks, which have been under pressure for the last few sessions, are witnessing tremendous short covering and new buying today. Leading IT stocks like TCS, Infosys, Tech Mahindra, Wipro and HCL Tech have registered gains on heavy volumes. Experts believe that due to expectations of improvement in technology spending globally and announcements of big deals, investors have once again expressed their confidence in the IT sector, due to which the entire index has brightened. Retail investors’ confidence increased in local and regional markets. With the advent of digital trading platforms and AI-based modern investment tools, local investors from India’s tier-2 and tier-3 cities to rural areas are also taking full advantage of this rally. The participation of retail investors from different geographical regions of the country is continuously reaching record levels in the stock market. This local investment is providing a new and strong base to the Indian stock market, due to which the Indian market continues to remain in recovery mode despite global fluctuations.