Share Market Update: Sensex rose by 800 points, Nifty also rose by 240 points, know the reason for the rise?

Share Market Update: Today, on March 20, there is a boom in the stock market. Sensex is trading at the level of 75,000, up 800 points (1.07%). At the same time, Nifty has also reached the level of 23,240 with an increase of 240 points (1.04%). Today maximum buying is being seen in banking and auto shares.

Two reasons for the market boom

Fall in oil prices amid the ongoing conflict in the Middle East has brought relief to global markets. Brent crude has now fallen to $107 per barrel.

“Value buying”—ie buying at lower levels—is being seen in the Indian stock market. This is happening just a day after the market recorded its biggest decline since June 2024.

1. Asian markets fall

Japan’s stock market is closed today due to Vernal Equinox.
South Korea’s KOSPI index is trading at the level of 5,806 with a gain of 0.74%.

Hong Kong’s Hang Seng index fell 0.63% to 25,340.
China’s Shanghai Composite Index is trading at the level of 4,013 with a gain of 0.16%.

2. American markets fell on March 19

Dow Jones closed at 46,021, down 203 points (0.44%).
The tech-heavy Nasdaq Composite index closed down 0.28% at 22,090.

The S&P 500 index closed at 6,606, down 18 points (0.27%).

3. Crude oil prices fell 2% to $107 per barrel.

A decline in crude oil prices is being seen today amid the ongoing conflict between America, Israel and Iran. However, it is still trading above the $100 per barrel level.

Brent crude fell 2% today to $107 per barrel. Global benchmark Brent crude prices rose more than 6% yesterday, crossing $115 a barrel, due to supply disruptions from the Persian Gulf. Meanwhile, Indian basket prices have reached $146 per barrel.

4. Rupee reaches record low of 93.24

When markets opened today on Friday, the rupee fell to its all-time low against the US dollar due to the ongoing conflict involving Iran in the Gulf region. The rupee is currently trading at the level of 93.24 against the dollar. In the last trading session, it closed at 92.63. The currency market remained closed on March 19 due to holiday.

The stock market witnessed the biggest decline in 22 months yesterday

Yesterday, March 19, the stock market witnessed its biggest fall in 22 months. Sensex fell 2,497 points (3.26%) to close at 74,207. Similarly, Nifty saw a decline of 776 points (3.26%), and closed at 23,002. Earlier, on June 4, 2024, the Sensex had fallen by 5.74%.