New Delhi:
There was a stormy rise in the stock market today. As soon as the market opened, the Sensex jumped by more than 800 points, due to which the faces of investors lit up. But after the initial rise, the Sensex fell. By around 12 noon, Sensex had fallen by 180 points; However, amid positive sentiment from global markets, the Indian stock market opened in the green on Wednesday with a strong rise. Meanwhile, a rise of about one percent was recorded in the major benchmark indices. During this period, Sensex jumped by about 822 points and crossed the level of 74,675, while Nifty 50 also reached above 23,000 with a gain of more than 0.80 percent. Till 11 noon, Sensex is up by 422 points.
During the day, the Sensex opened at 74,337, rising 485 points or 0.65 percent from its previous closing of 73,852. At one time it reached the highest level of 74,607.66 with an increase of 754.76 points or 1.02 percent. At the same time, Nifty 50 opened at 23,016.00, jumping 127 points or 0.55 percent from its previous close of 22,888.95 and at one point in the day’s trading it reached the day’s highest level of 23,119.25 with a gain of 230.3 points or 1 percent.
Impact of spring is visible in IT
In the market, Nifty Midcap 100 increased by 0.02 percent, while Nifty Smallcap 100 declined by 0.09 percent. If seen sector wise, the maximum increase of 2.3 percent was seen in Nifty IT. Along with this, good growth was also recorded in Nifty PSU Bank, Nifty Oil & Gas, Nifty Cement and Nifty Realty. On the contrary, the biggest decline was recorded in Nifty Chemical and Nifty Media.
The value of rupee also increased against the dollar
In the currency market, the Indian rupee opened 15 paise higher at 94.78 against the US dollar, whereas the previous day it had closed at 94.93. Globally, Asian markets witnessed a rise, with South Korean shares leading the gains. Overnight on Wall Street, gains in healthcare stocks lifted the Dow Jones and S&P 500 indexes, while technology stocks modestly dragged down the Nasdaq index. Meanwhile, crude oil prices witnessed a rise, with global benchmark Brent oil trading near $110 per barrel.
What do experts say?
Market experts say optimism over the possibility of an India-US trade deal may support the domestic market, but higher crude oil prices, rising global bond yields and persistent geopolitical uncertainty are putting pressure on investor confidence, making a lasting recovery difficult.
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Source: ndtv.in
