Investors are hopeful about the western agreement, Sensex rises by 753 points, rise in domestic stock markets
Mumbai. Domestic stock markets witnessed a rise on Tuesday and BSE Sensex rose 753.03 points (0.96 per cent) to 79,273.33 on hopes of soon finalizing the interim trade agreement with the US. The Nifty-50 index of the National Stock Exchange also closed at 24,576.60 points, up 211.75 points or 0.87 percent. This is the highest level of both the indices since March 05. Indian delegation has visited the US for further talks to finalize an interim trade agreement with the US.
Investors hope that the implementation of this agreement will open new opportunities for both the countries and bilateral trade will increase. There was all-round buying in the market and investors showed confidence in medium and small companies also. Nifty Midcap-50 index rose 0.47 percent and Smallcap-100 index rose 0.88 percent.
Barring slight decline in pharma and consumer durables groups, indices of all other sectors remained up. The index of FMCG group closed up by 2.5 per cent, that of realty by 2 per cent and that of private banking group by 1.5 per cent. Indices of finance, media, public banking, IT and chemicals groups also remained strong. Among Sensex companies, Trent’s shares rose by more than three and a half percent.
Hindustan Unilever also had a rise of more than three percent. Shares of ICICI Bank, Bajaj Finance and HDFC Bank strengthened by two to two and a half percent. Shares of Eternal, Axis Bank, ITC, Bajaj Finserv, TCS, Asian Paints, Adani Ports and UltraTech Cement gained one to two percent.
Shares of HCL Technologies, Mahindra & Mahindra, L&T, Kotak Mahindra Bank, Bharti Airtel and State Bank of India also remained in the green. BEL shares fell by more than 1.25 percent. Titan, Reliance Industries, NTPC and Power Grid also declined.
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