New Delhi: The stock market, which has been in a slump for the past three days, rose sharply on Thursday. Following this, the Bombay Stock Exchange benchmark Sensex rose another 503 points. Bank and financial institution stocks were well received.
Global market specifications were mixed. At this point, the domestic market started the morning on a bearish note. But stocks went negative in one building as sales increased. However, the sudden rise in the market in the afternoon ended in a stalemate. Stockbroking firms said that the sudden and sudden increase in share sales in the market was mainly due to the fact that foreign institutional investors have been selling shares for 10 consecutive months and withdrawing their investments, while domestic investors have been buying less.
At the same time, traders said the market surge was due to the fact that Thursday was the last day to close the May accounts in the forex trading, which had already sold shares at the last minute and sought to fix the account. In this scenario, experts say, the market is more likely to go up if foreign institutional investors sell less shares. They also noted that the financial measures announced by the central government to control inflation are in favor of the domestic market.
1,690 stocks rise: 1,690 out of a total of 3,429 stocks traded on the Bombay Stock Exchange. 1,623 shares came on the fall list. 116 shares remained unchanged. 49 shares recorded new 52-week highs and 2465 shares recorded new lows. The market capitalization stood at Rs 2.39 lakh crore and ended at Rs 250.51 lakh crore. Meanwhile, foreign institutional investors sold shares worth Rs 1,803.06 crore on Wednesday and withdrew their investments.
End of three-day decline: The Sensex started the morning with an increase of 201.58 points at 53,950.84 and fell to 53,425.25. After that, the Sensex rose sharply to a high of 54,346.22, finally ending at 503.27 points (0.94 per cent) at 53252.53. While the bear suddenly dominated the first half, the market came under bull control in the second half. This was followed by a three-day recession.
25 stocks up in Sensex: Among the top 30 stocks in the Sensex, Sunpoma, Reliance, Hindustan Unilever, L&T, Bajaj Finance and 5 other stocks were the top gainers. Of this, Tata Steel was up 5.27 per cent and SBI was up 3.26 per cent. These were followed by HDFC Bank, Axis Bank, Nestle, HDFC, ICICI Bank, TCS and Wipro. Also on the list were Infosys, Kotak Bank, Maruti and IndusInd Bank.
Nifty up 144 points: The National Stock Exchange gained 1,062 shares. 884 shares fell. In the Nifty list, 39 stocks were on the gains list and 11 stocks were on the fall list. The Nifty index, which had gained 79.20 points at 16,105.00 in the morning, fell to 15,903.70.
Bank Index Improvement: All other sectoral indices except the Nifty FMCG Index were on the gains list on the National Stock Exchange. The PSU Bank Index topped the list with a gain of 3.16%. Moreover, the Nifty Bank, Private Bank, Metal and Financial Services indices rose 1.80 to 2.70 per cent.
LIC shares fall further !: New low price record
Shares of LIC, which was recently listed on the stock exchange, fell further. Shares of LIC started the morning at Rs 820.30 and touched a high of Rs 824.80 on the National Stock Exchange. Then it went down to Rs 801 and recorded a new 52 week low. The stock ended 0.91 per cent lower at Rs 812.85. On the Bombay Stock Exchange, the stock traded down 1.13 per cent at Rs 811.70.
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