Stock Market Today: Strong start in the stock market, Sensex jumped 700 points, huge buying in IT FMCG shares.
Mumbai. The domestic stock market made a strong start on Wednesday. In early trade, BSE Sensex jumped by more than 700 points due to all-round buying by investors, while Nifty was seen trading above 24,200. Sensex opened with a gain of 342.15 points at 77,423.77. It rose nearly 740 points (0.96%) to 77,506.03 in early trade. During trading, Sensex also touched an intraday high of 77,593. At the same time, NSE Nifty-50 opened at 24,176.65 with a rise of 191.30 points and in early trade rose 219.05 points (0.91%) to reach the level of 24,204.40.
IT and FMCG sector become market strength
The biggest contribution to the market growth was made by IT and FMCG sectors. The IT index was stronger by around 2.75% and the FMCG index by more than 1.5%. Apart from this, good buying was also seen in metal, chemical, cement, healthcare, banking, financial, media and auto sectors. However, the realty sector remained under pressure.
The biggest rise was seen in these shares
L&T shares rose about 3.75% after better quarterly results. Infosys recorded a rise of more than 3%. Whereas shares of Hindustan Unilever and TCS remained strong by 2.5% to 3%. Apart from this, shares of Tata Steel, Bharti Airtel, Tech Mahindra, HDFC Bank, HCL Technologies, ITC and Eternal also registered a rise of 1% to 2%.
Investor sentiment is positive
There was a buying environment in almost all sectors in the market, due to which investor confidence appeared strong in the early trade. Experts believe that the market has got initial support due to strong corporate results and global cues.
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