Stock market geting stable, Sensex rises by 466 points
Mumbai: The domestic stock market rose for the fourth consecutive day amid positive investment signals from overseas.
The BSE Sensex gained 465.86 points or 1.29 percent to close at 36,487.28 points, and the National Stock Exchange’s Nifty gained 156.30 points or 1.47 percent to close at 10,763.65 points. This is the highest level in the last four months for both major indices.
Expecting the economy to return to China, foreign markets continued to boom and major stock markets remained green. China’s Shanghai Composite climbed 5.71 percent in Asia, Hong Kong’s Hang Seng 3.81 percent, Japan’s Nikkei 1.83 percent and South Korea’s Kospi rose 1.65 percent. In early trade in Europe, the UK’s FTSE gained 2.09% and the German Dax gained 2.01%.
Investments in the domestic markets have been strong since morning, as the global markets pick up. In the midst of all-round buying, stocks of major companies such as Reliance Industries, HDFC Bank and TCS rose sharply during the day. The index for energy, real estate, auto and metal groups grew by about 3%.
Shopping in medium and small companies Investors also bought in medium and small companies. The BSE midcap gained 1.27 percent to 13,457.64 points and the smallcap gained 1.30 percent to close at 12,766.59.
Mahindra & Mahindra shares rose more than 7.5 percent in Sensex companies.Bajaj Finance grew by 6% and Reliance Industries by 3.5%. Maruti Suzuki’s shares rose 3.5 percent and TCS’s nearly 3 percent. On the other hand, Bajaj Auto lost more than one percent.
On the commencement of trading today, the Sensex rose by 292.04 points to open at 36,313.46 points and remained green for the whole day.It touched a one-day low of 36,254.02 in early trade and climbed to a high of 36,661.66 in the afternoon and finally closed at 36,487.28, up 1.29 percent from the previous day.
Bajaj Auto recorded the highest decline of 1.29%. HDFC shares declined 0.90 percent, Bharti Airtel 0.79 percent, India Unilever 0.48 percent and HCL Technologies 0.17 percent.