New Delhi: The stock market witnessed ‘Holi’ excitement on Thursday. Following this, the Bombay Stock Exchange benchmark Sensex rose over 1,000 points for the second day in a row.
The US Federal Reserve has raised interest rates to control inflation. It also said there would be tight decisions on monetary policy in the coming months. Despite that, it had no impact on the market. On the contrary, most of the stock markets worldwide were dominated by the ‘bull’. Moreover, foreign institutional investors, who have been selling stocks since last October and withdrawing their investments, are now focusing on repurchasing and the steady recovery in the value of the rupee against the US dollar has given the market a boost. However, shares of the IT company were hit hard by the close of trading. However, stockbroking firms said that the market was able to see ‘Holi’ enthusiasm.
2,051 stocks gain: 2,051 out of 3,529 stocks traded higher on the Bombay Stock Exchange. 1,3652 shares fell in price. 116 shares remained unchanged. 123 stocks recorded new 52-week highs and 19 stocks recorded new lows. The market capitalization rose by Rs 4.15 lakh crore to Rs 260.38 lakh crore at the end of trading. The number of registered investors has crossed 10 crore.
1,047 points higher: The Sensex started the morning at 57,620.28, a gain of 803..63 points, down to 57,518.06. The Sensex, which had then touched a high of 58,095.84, finally rose 1,047.28 points (1.84 per cent) to close at 57,863.93. Most of the time the market was completely dominated by the bull.
Strengthened by HDFC: All the stocks except Infosys and HCL Tech were listed above on the Sensex, which includes 30 first-class stocks. HDFC topped the list with 5.60 per cent and Titan 4.50 per cent. These were followed by Kotak Bank, Reliance, AsianPaint, Tata Steel, Maruti, M&M, Nestle and Dr Reddy, up 2.50 to 3.30 per cent. Leading stocks including Bajaj Finance, Bajaj Finchow, SBI, Axis Bank, HDFC Bank, ICICI Bank and IndusInd Bank were also on the uptrend.
Nifty up 312 points: 1,228 shares gained on the National Stock Exchange. Only 673 shares came on the losing list. The wide-based National Stock Exchange Nifty index also gained 311.70 points, or 1.84 per cent, to close at 17,287.05. The Nifty, which started the morning at 17,202.90 with a gain of 227.55 points, fell to 17,175.75. Then, the high rose to 17,344.60.
Realty, Bank, ID indices improvement: All other sector indices except the ID index were on the gains list in the National Stock Exchange. The Nifty Realty index rose 3.13 percent for the second day in a row. Also, Nifty Bank, Financial Services, Auto, Metal, Private Bank, Consumer Durables, Oil & Gas indices rose by 2 to 2.80 per cent. FMCG, PSU Bank, Poma, Healthco and Media indices rose 1 to 1.40 per cent.
today Holiday
The stock market has been declared closed on Friday (March 18) to coincide with the Holi festival. As a result, the National Stock Exchange and the Mumbai Stock Exchange will not be trading on the day. Meanwhile, the Sensex was up 1,047.28 points (1.84 per cent) and the Nifty was up 311.70 points (1.84 per cent) in just four days of trading this week. Meanwhile, market experts said that the domestic market is likely to rise further if tensions between Russia and Ukraine ease and foreign investors continue to buy shares.