Stock Market Today: After 5 trading sessions in the stock market, a great boom again, Sensex-Nifty took a big leap, these stocks have a stormy boom.

On Monday, there was a boom in the stock market. Both the Sensex and the Nifty closed higher, while the Nifty again touched the 24,000 mark. This boom in the market has strengthened the confidence of the investors.
The Indian stock market made a strong comeback on Monday after suffering losses for 5 consecutive business sessions. The start of the week was a relief for investors. A fall in crude oil prices and signs of easing tensions between the US and Iran led to an upturn in market sentiment. Due to the same reason, Sensex gained 776.01 points to close at 76,835.78. While the Nifty rose 228.50 points to 23,995.95. IT, media, realty and auto sector stocks saw good buying, while the oil and gas sector remained under pressure.
Shares of Eternal, IndiGo, Infosys, Bajaj Finance and Shriram Finance were the top gainers in today’s trade. The market strengthened due to buying in these stocks. On the other hand, stocks of ONGC, Cipla, HDFC Life, HDFC Bank and Adani Ports declined, which also created some pressure.

These sectors have been the most bullish

As far as sectoral indices are concerned, Nifty Media was the top gainer and recorded an increase of 2.50%. Then Nifty IT rose 2.28% and realty index 2.01%. Auto, Pharma, FMCG, Bank, Infra and Metal sectors also witnessed good buying. However, the oil and gas sector remained under pressure throughout the day and ended with a mild decline.

Midcap and smallcap stocks also showed strength

The market boom was not limited to just the big stocks. Midcap and smallcap stocks also witnessed buoyant buying. The Nifty Midcap 100 index closed around 1 percent higher and the Smallcap 100 index 1.3% higher. This shows that investor confidence has returned to the market as a whole.

Why is the market booming again?

The biggest reason for the market’s comeback is believed to be the drop in crude oil prices. Brent crude fell nearly 9% to $89.04 a barrel. De-escalation of military tensions between the US and Iran has eased fears of supply disruptions. Cheap crude oil is a relief news for a major oil importing country like India. This can reduce inflationary pressures, reduce costs for companies and support the economy. This is the reason why after 5 consecutive days of selling, the investors once again started buying and the stock market saw a huge rally.

Rupee strengthened

Along with the rise in the stock market, the Indian rupee also saw an improvement. The rupee strengthened by 68 paise against the dollar to close at 95.89 per dollar. This is expected to increase the confidence of foreign investors and reduce import costs.