share market today: Why is share market going up today? Key factors that drove the Sensex, Nifty on Monday’s trade Mumbai and Indian stock markets have been up since the start of trading this morning. Shares of Mahindra & Mahindra have risen to levels not seen in the last four years.
Mumbai, First Published May 30, 2022, 2:27 PM IST
Mumbai and Indian stock markets have been on the rise since the start of trading this morning. Shares of Mahindra & Mahindra have risen to levels not seen in the last four years.
Investors bought shares of Mahindra & Mahindra today following a 47.8 per cent rise in net profit. As a result, Mahindra shares rose 4 percent.
Shares of Mahindra hit a four-year high. Shares of Mahindra were up 41 points at Rs 994 and the Nifty was up 42 points.
Shares of Tata Motors rose today on news that Tata Motors will buy Ford in Gujarat. Shares of Tata Motors rose 2.3 per cent. The Sensex is up over 1000 points and the Nifty is up over 300 points on the Bombay Stock Exchange.
What caused the stock market to rise
Investors were excited to trade as corona restrictions in China have been relaxed and the economic cycle will no longer accelerate. IT stocks, especially in the Nifty, rose 3.6 percent. Shares of HCL, Infosys, rose 3 percent.
VK Vijayakumar, Chief Investment Adviser, Geojit Financial Services, said, “The rise in the IT sector is the main reason for the rise in the stock market. Investors are eager to buy stocks as corona restrictions in China are eased and the economic cycle accelerates in the coming days. ”
Last Updated May 30, 2022, 2:27 PM IST
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