Sunday, February 25th, 2024

Stock Market Close: Tremendous rise in the Indian stock market; Nifty closed near 20,100

Photo:FILE Stock Market

Wednesday’s trading session was bullish for the Indian stock market. All the market indices closed in the green. BSE Sensex closed at 66,901.92, up 727.71 points or 1.10 per cent, and NSE Nifty closed at 20,096.60, up 206.90 points or 1.04 per cent.

In today’s session, all three indices, Large Cap, Small Cap and Mid Cap have seen a rise. Buying was seen in NSE’s Auto, IT, PSU, Finservices, Pharma, FMCG and Metal stocks. However, media and realty stocks have seen pressure.

gainers and losers

Sensex pack includes Axis Bank, M&M, Wipro, Tata Motors, HDFC Bank, Tech Mahindra, ICICI Bank, JSW Steel, TCS, HCL Tech, Infosys, Kotak Mahindra, L&T, Bharti Airtel, Sun Pharma, SBI, Tata Steel, IndusInd Bank Shares of HUL, Power Grid, ITC, NTPC, Reliance, Maruti Suzuki, Bajaj Finance and Asian Paints closed higher. At the same time, shares of UltraTech Cement, Bajaj Finserv, Titan and Nestle closed in the red.

reason for the rise

Arvinder Singh Nanda, senior vice-president, Master Capital Services Ltd, said the Nifty index crossed the psychological milestone of 20,000 points and hit a 10-week high. This month Nifty recorded a growth of about 5 percent. Explaining the reason behind this rise, he said that the signs of softening of interest rates from the US Fed and purchases by foreign investors have increased the confidence of investors.

condition of global markets

There was mixed trading in Asian markets in today’s trading session. A decline has been recorded in the markets of Tokyo, Shanghai, Hong Kong, Seoul and Jakarta. At the same time, the markets of Taipei closed with a slight gain. Till the time of writing the news, most of the European markets have closed with gains. American markets also closed with gains on Wednesday. There is a slight rise in crude oil and it is up by 1.23 percent at $ 82.46 per barrel.

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