Indian stock markets ended the 5th day on a positive note. At the end of today’s (July 21) trading hours, the BSE Sensex rose 284 points to close at 55,681 points and the NSE Nifty closed over 16,600 points. Sensex has gained 2,200 points in the last 5 days alone. As for the Nifty, it has settled above 16,600 points since June 2.
Sector-wise, except Pharma, all sectors saw a boom. Banking, oil and gas and power sector stocks rose between 1 and 2 percent. In the last 5 days, the assets of companies listed on the Mumbai Stock Exchange have increased by Rs 10 lakh crore.
Indian stock markets continue to rally despite the crisis in international markets as foreign direct investors (FDI) buy stocks again. Out of a list of 30 stocks, 25 stocks ended with gains. IndusInd shares rose as much as 7 percent. Shares of Asian Paints, Axis Bank, Power Grid and Infosys closed 1-2 percent higher each.
International equity markets started off lower as the Bank of England meeting is expected to raise interest rates by 50 basis points. In Asia, Seoul and Japan ended higher, while Shanghai and Hong Kong ended lower.
In the international market, crude oil prices fell by $3.90 to trade at $102.8 a barrel. Due to this, the Indian rupee appreciated by 20 paise to 79.85 paise against the US dollar.