Share Market: Strong comeback after the fall! Sensex improved by 1,800 points from low level, investors’ enthusiasm returned

Share Market Highlights: Thursday’s session was full of ups and downs for the Indian stock market. The market started with a decline, but ended the day with a rise. A strong recovery was seen in the market in the trading session. Sensex saw a rise of 1,774 points from intra-day low of 71,545 points. The Sensex ended the day at 73,319.55, up 185.23 points or 0.25 per cent. Nifty saw a recovery of 531 points from intra-day low of 22,182. It closed at 22,713.10, up 33.70 points or 0.15 percent.

The market rise was led by IT stocks. Among indices, Nifty IT closed with a gain of 2.60 percent. Nifty Realty closed with gains of 1.07 percent, Nifty Services by 0.54 percent, Nifty Metal by 0.39 percent, Nifty Private Bank by 0.39 percent and Nifty FMCG by 0.21 percent.

Today’s Top Gainers and Losers

On the other hand, Nifty Consumer Durables were in the red with a weakness of 0.93 percent, Nifty Pharma 0.92 percent, Nifty Healthcare 0.86 percent, Nifty Oil&Gas 0.79 percent, Nifty Auto 0.62 percent and Nifty Infra 0.45 percent. HCL Tech, Tech Mahindra, Infosys, TCS, HDFC Bank, Bajaj Finance, Maruti Suzuki, Titan, Axis Bank, BEL, Kotak Mahindra Bank, ITC, ICICI Bank, Bharti Airtel, IndiGo, L&T and SBI were the gainers in the Sensex pack. Asian Paints, Eternal, Sun Pharma, NTPC, Power Grid, M&M, UltraTech Cement, Bajaj Finserv and Tata Steel were the losers.

Condition of top 30 Sensex companies

Weakness in midcap and smallcap

Weakness was seen in midcaps and smallcaps as compared to largecaps. The Nifty Midcap 100 index was at 53,677.05 with a weakness of 142.10 points or 0.26 per cent and the Nifty Smallcap 100 index was at 15,650.50 with a weakness of 59.30 points or 0.38 per cent.

Reason for decline in share market

Sunny Aggarwal, Head of Fundamental Research, SBI Securities, said Indian indices Nifty and Sensex witnessed heavy losses in early trade after US President Donald Trump tweeted that possible serious attacks on Iran in the next 2-3 weeks.

Also read: Warning of attack on Iran and outcry in the stock market! Sensex and Nifty crashed, investors lost crores of rupees

Historic rise in rupee against dollar

These indices fell by 500 points and 1500 points respectively. However, there was a strong recovery in the markets in the middle of the session due to value based buying and strengthening of the rupee. Rs has us dollar Recorded its biggest increase in the last 12 years. Due to this, both the indices closed at positive levels.