Share Market Closed: Sensex rises by 791 points, stock market is buzzing, know the condition of Nifty
Mumbai. The local stock market regained momentum on Wednesday due to softening of crude oil prices and buying in bank, financial and IT stocks and both the benchmark indices remained in profit. BSE Sensex rose 791 points while NSE Nifty rose 197 points. BSE Sensex based on 30 shares gained 790.54 points or 1.04 percent. At one time during trading it had climbed up to 989.69 points. The 50-share NSE Nifty closed at 24,021.65, up 197.55 points or 0.83 percent.
Among Sensex companies, InterGlobe Aviation, Trent, Tech Mahindra, Bajaj Finance, ICICI Bank, Infosys, HDFC Bank and Tata Consultancy Services were the major gainers. On the other hand, loss-making stocks include NTPC, Tata Steel, Maruti and Bharat Electronics. Global oil benchmark Brent crude fell 1.69 percent to $75.78 per barrel. According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 17.86 crore on Tuesday.
The US and India are ‘very close’ to finalizing a historic bilateral trade agreement, a senior US official has said. This agreement is beneficial for both the parties. This will open the doors of the Indian market with a population of 1.4 billion for American goods. Ponmudi R, CEO of online trading company ‘Enrich Money’, said, “The Indian stock market made a good comeback due to strong gains in banking stocks and improvement in the IT sector.
Easing tensions in West Asia and further decline in crude oil prices brought back investor risk appetite and supported broad market participation. This improved market sentiment.” Among other markets in Asia, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng closed with gains, while Japan’s Nikkei declined. There was a mixed trend in the major markets of Europe in afternoon trade. On Tuesday, American markets closed with a heavy fall. Sensex fell 893.39 points on Tuesday and closed at 76,200.68 points, while Nifty fell by 278.80 points at 23,824.10 points.
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