Share Market: Strong rise in the stock market in early trading, Sensex rose 336 points, Nifty near 24,000.

Mumbai, 9 July. Despite mixed signals from global markets, the Indian stock market made a strong start on Thursday. In early trade, Sensex jumped 336 points (0.42%) to 76,822 on the back of buying by investors, while Nifty was seen trading at 23,994.35 with a gain of 112 points (0.47%). Nifty reached very close to the important level of 24,000. Good buying was seen in the market not only in largecap but also in midcap and smallcap stocks. Nifty Midcap 100 was trading at 61,876 with a gain of about 550 points (0.90%) and Nifty Smallcap 100 was trading at 18,964 with a gain of 181 points (0.96%).

Major Sensex gainers included Eternal, Sun Pharma, Titan, Bharti Airtel, Asian Paints, Trent, L&T, HDFC Bank, Power Grid, BEL, Mahindra & Mahindra, Axis Bank, UltraTech Cement, Adani Ports, Kotak Mahindra Bank, SBI, ITC and HUL. Whereas shares of Infosys, TCS, HCL Tech, Tech Mahindra, Bajaj Finance and NTPC remained under pressure. Talking about sectoral indices, consumer durables and realty sectors led the market rise. Apart from this, strength was also seen in Pharma, Healthcare, Media, Infra, Private Bank and FMCG sectors. However, IT and metal sectors continued to trade in the red.

Market experts believe that after the recent decline, the market is being strengthened by investors’ buying at lower levels and continuous buying by foreign investors. Foreign institutional investors (FIIs) have been buying continuously for the last six trading sessions. On Wednesday, FIIs bought equities worth Rs 1,963 crore, while domestic institutional investors (DIIs) invested Rs 790.16 crore.

A mixed trend was also seen in Asian markets. The markets of Tokyo, Bangkok and Jakarta remained in the rise, while the markets of Shanghai, Hong Kong and Seoul recorded a decline. In the US markets on Wednesday, Dow Jones closed with a fall of 1.09%, while Nasdaq closed with a gain of 0.20%.