Stock market is up for third consecutive day, highest since July 28
Mumbai: Domestic stock markets rose for the third consecutive day today. The 30-share BSE Sensex surged 141.51 points or 0.37 percent, to a nearly two-week high of 38,182.08. The Nifty of the National Stock Exchange gained more than the Sensex. It closed at 11,274.70 with a gain of 60.65 points, or 0.54 percent. This is the highest since July 28 of both major indices.
Investors in medium and small companies bought more than big companies. The BSE smallcap went up to 1.47 percent to 13,869.08 points and the midcap gained 1.42 percent to 14,420.70 points.
Along with the pharma sector, investors invested a lot of money in the capital goods, realty and industrial sectors. Among Sensex companies, shares of L&T and Mahindra & Mahindra gained nearly 5 percent. Sun Pharma was up nearly three and a half percent and Tech Mahindra and NTPC were up around three percent. Reliance Industries shares fell the most by 1.25 percent.
There was a similar trend in Asian markets. Hong Kong’s Hang Seng slipped 0.63 percent and Japan’s Nikki 0.39 percent. At the same time, South Korea’s Kospi closed at 1.48 percent and China’s Shanghai Composite gained 0.75 percent. European markets continued to grow. In early trade, the UK’s FTSE gained 0.53 percent and the German Dax gained 0.32 percent.