Sensex jumps 800 points in the stock market, Nifty crosses 24,000, investors are in silver, know 5 big reasons for the rise

News India Live, Digital Desk: Today is proving to be an auspicious day for the Indian stock market. After yesterday’s huge fall, the market has made a great comeback today. Due to positive signals from the global market and buying by domestic institutional investors, both Sensex and Nifty are trading in the green. As soon as the market opened on Friday morning, the Sensex saw a huge rise of about 800 points, while the Nifty also jumped by 230 points and crossed the psychological level of 24,000. Today’s rally has been led by the banking and financial sector. Shares like ICICI Bank, Axis Bank and Bajaj Finance are seeing a rise of 5% to 7%. Market analysts believe that investors are placing big bets on these stocks in anticipation of good results for the March quarter. Apart from this, there is a buying environment in big stocks like Reliance Industries and L&T, which is strengthening the market. Global cues filled the market. The effect of the strength in the American markets on Thursday night is clearly visible on the Asian markets today. After the rise in Dow Jones and Nasdaq, GIFT Nifty had indicated in the morning that Dalal Street is going to be busy today. However, slight fluctuations in crude oil prices and ongoing tension in West Asia still remain a matter of concern for investors, but at the moment the Indian markets are moving ahead ignoring these concerns. Pressure on IT stocks, shine in midcaps. While on one hand the entire market is riding on the bullish horse, on the other hand the IT sector (IT Index) is looking a bit sluggish today. Light profit booking is being seen in big stocks like TCS and Infosys. On the other hand, midcap and smallcap indices are also up by more than 1%, which has brought greenery back into the portfolios of small investors. Experts advise that amid this boom in the market, investors should adopt the strategy of buying on dips, but it is also important to keep in mind the stop loss.