The stock market ended positive on Tuesday, the second day of the week. The Bombay Stock Exchange benchmark Sensex rose by another 350 points on the upside.
Following the resumption of Ukraine-Russia talks in the context of the war, trade in most markets around the world remained positive. Its impact was echoed in the domestic market. Although it started with the boom, then came from the wobble. Later in the day, stock market brokerages reported that the market had risen during the afternoon trade and closed positive for the second day. Traders attributed the rise in the market to the sharp rise in leading stocks, especially HDFC twin companies Bharti Airtel and Infosys. Meanwhile, foreign institutional investors sold shares worth Rs 801.41 crore on Monday and withdrew their investments, according to market data.
2,031 shares of the stock market plunge: 2,031 shares of the 3,518 companies traded lower on the Bombay Stock Exchange. Only 1,396 shares gained. 91 shares remained unchanged. 129 shares recorded new 52-week highs and 106 shares recorded new lows. The market capitalization rose by Rs 1.37 lakh crore to Rs 261.62 lakh crore at the end of trading. The number of registered investors has increased to 10.12 crore.
Further 350 points improvement: The Sensex started the morning at 57,814.76 with a gain of 221.27 points and fell to 57,639.35. Then, the Sensex, which had touched a high of 58,001.53, finally rose 350.16 points (0.61 per cent) to 57,943.65. The market saw a rise and fall. However trading throughout the day remained positive.
HDFC benchmark: Only 10 stocks were on the fall list in the Sensex, which includes 30-grade stocks. 20 shares gained. Of these, HDFC Bank, a leading private mortgage lender, rose 3.06 per cent to top the earnings list. Bharti Airtel was next with 2.90 per cent and Ultra Tech Cement 2.70 per cent. Also on the list were Sunpharma, HDFC Bank, Dr Reddy, Hindustan Unilever, ICICI Bank, Infosys, Asian Paint and Bajaj Finance.
ITC decline: Meanwhile, popular consumer goods maker IDC fell 0.99 per cent to top the list. Also on the list were Indus Ind Bank, Maruti, Power Grid, SBI, Tata Steel, NTPC, Techmahindra, Bajaj Finserv and TCS.
Nifty up 103 points:
813 shares gained on the National Stock Exchange.
1,123 shares came on the losing list. The Nifty index, which includes 50 top-class stocks, rose 103.30 points (0.60 per cent) to close at 17,3252300. The Nifty, which started the morning at 17,297.20 with a gain of 75.20 points, fell to 17,235.70. Since then, it has risen to a high of 17,343.65.
Pharma code improvement:
On the National Stock Exchange, the Nifty Pharma index rose 1.54 percent to lead the gains list. In addition, the healthcare, consumer durables and financial services indices rose 1 to 1.35 percent. Meanwhile, the media index fell 1.22 percent and the PSU Bank index fell 0.83 percent.
Hero Motor Corp sharp decline
Shares of Hero Motor Corp, a leading two-wheeler maker, traded down 7.08 per cent at 2,208.35 on the Bombay Stock Exchange. According to media reports, the Income Tax Department has found that the company has misrepresented Rs 1,000 crore. Shares of Hero Motor Corp plunged following reports that the stock market management had asked for an explanation. On Tuesday morning, Rs. Hero Motor Corp, which started at 2394.00, rose to a high of Rs 2400.05. Later, Rs. Went down to 2,155.00. It finally closed at Rs 2,258.60. Similarly, Hero Motor Corp traded down 6.68 per cent at Rs 2,219 on the National Stock Exchange.