2024-08-30 06:45:15
New Delhi: Domestic stock market reached new record today. Good news on the economy front has boosted the market. In early trade, Sensex jumped 300 points while Nifty also reached above 25,250 points. 25 out of 30 Sensex stocks are trading with gains. BSE Sensex
It rose 324.46 points or 0.40% to reach 82,459.07 points. Nifty also rose 89.30 points or 0.36% to reach 25,241.25 points. Fitch and Moody’s say that India’s economy will remain the fastest growing economy in the world this year and next year. The highest growth is being seen in banking and financial stocks. A day after the AGM, the share of Reliance Industries was trading at 3033.85 points with a decline of 0.23%.
At the start of trading, PSE Bank, Fin Service, Pharma, FMCG, Metal, Realty and Energy indices are strong. However, the IT index is seeing slight pressure. The Sensex pack is dominated by Bajaj Finance, Bajaj Finserv, HDFC Bank, NTPC, Power Grid, L&T, Titan, M&M, Asian Paints and Reliance. Tata Motors, Tech Mahindra, Wipro, TCS, Sun Pharma and HCL Tech are the top losers. The market trend looks positive. On the National Stock Exchange (NSE), 1,575 stocks closed in the green mark and 435 stocks closed in the red mark. Along with largecaps, there is a bullish trend in midcaps and smallcaps as well. The Nifty Midcap 100 index is up 255 points or 0.45 per cent at 59,139 and the Nifty Smallcap 100 index is up 79 points or 0.41 per cent at 19,292.
Good news for 35 lakh Reliance investors before AGM, profit of ₹400 on each share!
The state of foreign markets
Almost all Asian markets are bullish. Tokyo, Seoul, Jakarta and Bangkok are trading with a gain of about half a percent. The US markets closed mixed on Thursday. Market experts say that the specialty of the current market is that there is very little volatility in it. Nifty has been registering a continuous rise for the last 11 days. DIIs and HNIs are continuously buying. FIIs have reduced the pace of selling, which has supported the market’s rise. In such a situation, it seems that this trend will continue in the short term.
(With inputs from IANS)