The bull market continued to dominate for the third day in a row. The Bombay Stock Exchange benchmark Sensex rose by 221 points to 60,616 on the uptrend.
Leading corporate companies’ 3rd quarter results are out in a row. The market is currently booming on the back of quarterly results from banks, metals and telecom companies.
However, selling of shares in the stock market increased as investors were cautious about seeing the growing impact of omega in China. Although its impact was initially felt in the domestic market, bull trading has since strengthened, according to stockbroking firms.
Traders attributed the rise in IT and financial sector stocks in particular.
Market value rises by Rs 52,000 crore: 1,513 shares of the 3,513 companies traded lower on the Bombay Stock Exchange. 1,933 shares gained. 67 shares remained unchanged. 615 shares recorded new 52-week highs and 7 shares recorded new lows. In addition, 773 stocks rose sharply to record highs and 187 stocks fell sharply to record lows.
The market capitalization rose further by Rs 52,000 crore to Rs 275.21 lakh crore at the end of trading. The number of registered investors has increased to 9.31 crore.
Excitement for the 3rd day: In the morning, the Sensex fell 52.93 points to 60,342.70, down to 60,281.52.
Then, the Sensex, which had touched a high of 60,689.25, finally rose 221.26 points (0.37 per cent) to close at 60,616.89. The Sensex, which includes 30 top-tier stocks, fell 14 points. 16 shares gained. The Sensex gained for the 3rd consecutive trading day.
HCL Tech Scale:
HCL Tech, one of the leading IT companies, topped the earnings list with a gain of 4.30%. This was followed by HDFC, Tech Mahindra, TCS, Reliance, Sunpharma, SBI and HDFC Bank, which rose 0.50 to 2 per cent. Leading stocks, including Infosys, Maruti Suzuki and Axis Bank, were among the gainers.
Tata Steel decline: Meanwhile, leading steelmaker Tata Steel fell 3.32 per cent to top the list. Also on the fall list were Bajaj Finance, ITC, Asian Paint, Kotak Bank, Dr Reddy’s Lab, IndusInd Bank, ICICI Bank and Bajaj Finserv.
Nifty up 52 points: 904 shares gained on the National Stock Exchange. 1,000 shares fell. 25 stocks gained in the Nifty list which includes 50 top grade stocks. 24 stocks fell. The Nifty index was up 52.45 points (0.29 per cent) at 18,055.75. The stock started the day with a weakness of 17,999.75 and went down to 17,964.40. Then, the high rose to 18,081.25.
Metal Index Decline: The Nifty Metal Index fell 1.90 per cent on the National Stock Exchange. Also, Auto, Media, FMCG, Pharma, Consumer Durables and PSU Bank declined slightly. Meanwhile, the ID index rose 1.03 percent. Nifty Bank, Financial Services, Realty, Oil & Gas indices also rose slightly.