2023-11-02 20:01:00
Stock Market Ends on a Positive Note, Sensex Rises 490 Points to Stabilize
After two consecutive days of decline, the stock market experienced a turnaround on Thursday, ending on a positive note. The Mumbai stock market index, Sensex, rose by 490 points, bringing much-needed stability to the market. Additionally, market capitalization saw a significant increase of Rs 1.80 lakh crore.
Positive Global Market Cues Impact Domestic Market
The positive momentum in the global market had a reverberating effect on the domestic market as well. Despite occasional profit-taking activities causing fluctuations, the market managed to end the day on a positive note. Stockbrokers reported gains across all sector indices, including Public Sector Banks, Financial Institutions, Realty, Metal, Auto, and FMCG.
Market Capitalization Sees a Significant Rise
Market capitalization witnessed a noteworthy rise, increasing by Rs 1.80 lakh crore and closing at Rs 313.25 lakh crore. However, foreign institutional investors sold shares worth Rs 1,816.91 crore on Wednesday and withdrew their investments, indicating some instability in the market.
Sensex Makes Impressive Progress
The opening bell saw the Sensex soaring to new heights at 64,033.40, up 442.07 points. It reached its peak at 64,202.64 but later experienced a slight dip to 63,815.36. Ultimately, the Sensex gained 489.57 points, a growth of 0.77 percent, to end at 64,080.90. Out of a total traded volume of 3,791 stocks on BSE, 2,312 recorded gains while 1,335 suffered losses. 144 stocks remained unchanged.
28 Stocks Show Price Volatility
Among the 28 stocks on the Sensex list that faced decliners, Tech Mahindra and Bajaj Finance were the only ones to experience losses, with declines of 0.59 percent and 0.27 percent, respectively. On the national bourse, there were a total of 1,496 gainers and 636 losers.
Nifty Demonstrates Positive Momentum
The NSE Nifty, comprising 50 major stocks, showed impressive gains of 130.84 points, reaching a high of 19,175.25 from 19,120. Despite a temporary low of 19,064.15, it ended the day with a 144.10 point increase, closing at 19,133.25. Out of the stocks listed in Nifty, 42 experienced gains while 8 suffered losses.
Bullish Stocks Leading the Market
Several stocks demonstrated bullish trends in the market:
– Indus Ind Bank rose by 2.07 percent
– Tata Motors witnessed a growth of 1.51 percent
– Sanpharma experienced a rise of 1.41 percent
– Tata Steel showed a 1.33 percent increase
– Infosys recorded a growth of 1.25 percent
– JSW Steel witnessed a rise of 1.21 percent
– Power Grid rose by 1.17 percent
– Bharti Airtel experienced an increase of 1.15 percent
– Axis Bank showed a growth of 1.12 percent
– M&M witnessed a rise of 1.10 percent
Overall, the stock market’s positive performance on Thursday brought much-needed relief and stability amidst recent fluctuations. With the global market also showing optimism, investors are hopeful for sustained growth in the coming days.
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