Share Market: Share market rose for the second consecutive day, Sensex rose by 1200 points; These shares created a stir
Share Market Highlights: The Indian stock market closed with a huge rise in Wednesday’s trading session. At the end of the day, Sensex was up 1,205 points or 1.63 per cent at 75,273.45 and Nifty was at 23,306.45, up 394.05 points or 1.72 per cent. There was all-round bullishness in the market and almost all the indices closed in the green.
Nifty Consumer Durables (3.51 per cent), Nifty Realty (2.69 per cent), Nifty PSU Bank (2.67 per cent), Nifty Metal (2.56 per cent), Nifty Financial Services (2.35 per cent), Nifty Auto (2.22 per cent) and Nifty Healthcare (2.05 per cent) closed in the green.
Today’s Top Gainers and Losers
Along with largecaps, midcaps and smallcaps also saw a rise. The Nifty Midcap 100 index was at 55,331.05, up 1,244.05 points or 2.30 per cent and the Nifty Smallcap 100 index was at 15,896.55, up 401.35 points or 2.59 per cent. UltraTech Cement, Bajaj Finance, L&T, Titan, Indigo, Trent, M&M, Tata Steel, SBI, Sun Pharma, Bajaj Finserv, Adani Ports, Asian Paints and HDFC Bank were the gainers in the Sensex pack. Tech Mahindra, Power Grid, TCS and Bharat Electronics were the losers.
Due to the boom in the market, the market cap of all the companies listed on the Bombay Stock Exchange (BSE) has increased by about Rs 8 lakh crore to Rs 4.31 lakh crore, which was earlier Rs 4.23 lakh crore.
Nifty’s strong start for the second consecutive day
Sudeep Shah, Head of Technical and Derivatives, SBI Securities, said Nifty started with gains for the second consecutive day and closed with gains during the day. However, Nifty faced resistance between 23,460-23,465. If the index crosses this zone then Nifty can go to the level of 23,600 and then 23,800. In case of a decline, 23,150-23,100 is a support zone.
Reason for rise in stock market
indian stock market The reason for the rise in crude oil prices, strong global signals and reduction in tension between Iran-America and Israel are believed to be the reasons for this and this has encouraged buying in the market.
Also read: Share Market Today: Dalal Street continues to be bright, Sensex opened 583 points higher at 74652, Nifty crossed 23000.
Relief news on global fronts
Amidst the ongoing tension with Iran US President Donald Trump Spoke to Prime Minister Narendra Modi on phone on Tuesday. In this conversation, the situation in West Asia and keeping the Strait of Hormuz open was discussed. This development is considered important for the market because it can reduce the risks related to energy supply.
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