The stock market closed lower on Friday, the last trading day of the week, after a two-day slump. The Bombay Stock Exchange benchmark Sensex rose by 1,534 points during the day. This is a day off that has not been seen in the last three months. Moreover, the market capitalization rose by Rs 5.06 lakh crore to Rs 254.12 lakh crore in a single day.
While global market sentiment remained volatile, its impact was felt in the domestic market as well. The market showed a confident and peaceful rally throughout the day. China’s central bank has cut interest rates to support growth. Stockbrokers said this gave them confidence in emerging markets. In particular, the market leadership said that the main reason for the market boom was the high level of competition for the acquisition of Reliance and HDFC dual companies. Meanwhile, foreign institutional investors sold shares worth Rs 4,899.92 crore on Thursday, according to market data.
2,497 shares of the company’s stock market: Out of the total 3,418 companies listed on the Bombay Stock Exchange, only 777 shares were on the fall. 2,497 shares came on the dividend. 144 shares remained unchanged. 65 stocks recorded new 52-week highs and 36 stocks recorded new lows. The market capitalization rose by Rs 5.06 lakh crore to Rs 254.12 lakh crore at the end of the quarter. The number of registered investors has crossed 10.617 crore. Meanwhile, the Sensex is up 1,532.77 points (2.90 per cent) and the Nifty is up 484 points (3.06) this week.
End of 2-day decline: The Sensex, which started the morning at 53,513.97 with a gain of 721.74 points, fell just below 53,403.29. The Sensex, which had subsequently touched a high of 54,396.43, finally closed at 54,326.39, up 1,534.16 points (2.91 per cent). The market was dominated by bulls throughout the day.
30 stocks improve on Sensex: A total of 30 stocks on the Sensex list were gainers. Leading palm oil company Dr Reddy led the list with 8.10 per cent, Reliance 5.77 per cent, Nestle 4.77 per cent and Tata Steel 4.22 per cent. These were followed by L&T, Axis Bank, Sunboma, Indus Ind Bank, SBI and HDFC, which rose 3 to 4 per cent. In addition, ICICI Bank, H.P.
Leading stocks including DFC Bank, Kotak Bank, Maruti, Infosys, TCS, Wipro, Hindustan Unilever and ITC were also on the gains list.
Nifty up 457 points: Only 318 stocks fell on the National Stock Exchange. 1,621 shares gained. Only 2 stocks out of the 50 top rating on the Nifty list fell. 48 shares gained. The Nifty index, which started the morning at 16,043.80 with a gain of 234.40 points, went down only to 16,003.85. Then, the Nifty, which had touched a high of 16283.85, finally settled at 16,266.15, up 456.75 points (2.89 per cent).
All indices improved: All the sector indices in the National Stock Exchange came on the earnings list. The Nifty Media, Metal and Realty indices topped the list with gains of 4.20 to 4.50 per cent. Also, Nifty Bank, Auto, Financial Services, PSU Bank, Private Bank, Poma, Healthco, Oil & Gas indices fell by 2.50 to 3.70 per cent.
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