Mumbai, First Published Apr 28, 2022, 3:55 PM IST
The uptrend, which started this morning on the National and Mumbai Stock Exchanges, continued till evening and ended with a bullish high.
Investors are excited
The market saw a boom as investors were enthusiastically invested in by the quarterly results of 50 companies in the Nifty, favored by international factors.
The stock market was expected to be volatile since the end of the month and there would be an f & o account footer. But the rise that began in the morning did not subside until the evening.
International factors
The US stock market Nasdaq ended higher yesterday, giving confidence to investors globally. Technology stocks rallied as Microsoft’s quarterly results were higher than expected. Echoes of this rise were felt in the Asian stock market as well as in the Indian stock market.
At the Asian Stock Exchange, Japan’s Nikkei, Hong Kong and South Korean markets ended higher. The echo was also seen in Indian stock markets this morning
Quarterly results
The Sensex was up over 400 points in early trade on the Bombay Stock Exchange. This boom did not slow down to the last. Bajaj BinServe’s net profit up 37% in 4th quarter, Hindustan Unilever up 4% in 4th quarter gave investors a boost. Thus they eagerly bought and accumulated shares.
Boom
The Sensex ended 702 points higher at 57,521 on the Bombay Stock Exchange. At the National Stock Exchange, the Nifty was up 206 points at 17,245 points.
On the Mumbai Stock Exchange, which has 30 major stocks, only 4 stocks ended lower. Shares of HDFC, HCLTech, Mahindra & Mahindra and Bharti Airtel fell.
Profit
The other 26 stocks ended the day with gains. Of the 50 stocks in the Nifty, 45 stocks ended higher. Shares of Hindustan Unilever, HDFC Life, SBI Life, Asian Paints, UPL, Power Grid, Larsen & Toubro, NTCP, SBI and Infosys traded higher.
1594 shares rose in value, 1729 shares fell in value and 104 shares remained unchanged. At Nifty, FMCG, power sector, automobile and investment goods rose 1 per cent to 2 per cent.
Last Updated Apr 28, 2022, 3:55 PM IST