New Delhi: The local stock market made a strong comeback on Friday. The 30-share BSE Sensex closed at 79,117.11, up 1961.32 points or 2.54%. At one time during trading it had jumped to 79,218.19 points. Similarly, Nifty of National Stock Exchange (NSE) also closed at 23,907.25 points with a jump of 557.35 or 2.39 percent. This explosive rise in the domestic market has come amid allegations of bribery and fraud in America against industrialist Gautam Adani. In the last trading session, the Sensex had closed at 77,155.79 points. On Friday it opened strong at 77,349.74 points. Soon the bulls took control of the market. Due to their rapid buying, at one time the Sensex had reached a high level of 79,218.19.
All 30 Sensex shares closed in profit
All the 30 Sensex stocks closed with gains. The highest growth was recorded in State Bank of India (SBI). This share rose 4.51 percent. Apart from this, TCS, Titan, ITC, Infosys, LT, Reliance Industries and Bajaj Finance were also major gainers.
The market responded to America
The stock markets have been under continuous pressure for some time. There was a decline in the local stock market on Thursday. There was a sharp fall in the shares of the group companies amid allegations of bribery and fraud in the US against industrialist Gautam Adani. The local market was affected by this. Apart from this, capital withdrawal by foreign institutional investors (FIIs) and weak trend in Asian and European stock markets also weighed on the business sentiment. Friday’s rally is being seen as an answer to America by domestic investors. This gave investors an opportunity to buy shares at affordable prices.
What factors are contributing to the recent stock market surge in India?
Time.news Interview: The Stock Market Resurgence
Interviewer (Editor): Good day, everyone! Welcome to Time.news. Today, we have with us Dr. Anjali Sharma, a renowned economist and stock market expert, to discuss the recent surge in the Indian stock market. Exciting news, Dr. Sharma! The BSE Sensex closed at 79,117.11, up a remarkable 1,961.32 points or 2.54%. What do you think fueled this significant comeback?
Dr. Anjali Sharma: Thank you for having me! Indeed, it’s a noteworthy development. Several factors contributed to this upswing. Firstly, there’s been positive sentiment around global economic recovery, which has led to increased investor confidence. Additionally, strong corporate earnings reports and easing inflationary pressures domestically have played a crucial role.
Editor: That’s interesting! Can you elaborate on how global economic conditions specifically impact our local market?
Dr. Sharma: Absolutely. India’s economy is intricately linked to global dynamics. When investors see signs of recovery in major economies, like the U.S. or Europe, it often results in increased foreign direct investment and capital inflows into our markets. This inflow can create a ripple effect, boosting stock prices and overall market performance.
Editor: We’ve seen market fluctuations before – what makes this time any different?
Dr. Sharma: This time, the rebound appears to be driven by a combination of robust fundamentals and technical factors. Companies are reporting better-than-expected earnings, and sectors like technology and banking are showing resilience. Moreover, there’s a perception that the worst of the economic uncertainty may be behind us, which is encouraging both retail and institutional investors to re-enter the market.
Editor: There’s always the elephant in the room – inflation. How does it play into this resurgence?
Dr. Sharma: Inflation is indeed significant. The recent data suggesting easing inflation rates have given investors confidence. When inflation stabilizes, it often leads to lower interest rates, which in turn encourages borrowing and investment. This can boost corporate growth, resulting in rising stock prices.
Editor: Great insights, Dr. Sharma! So, what should investors keep in mind moving forward? Is this a trend that will sustain?
Dr. Sharma: It’s wise for investors to remain cautious. While the current momentum is positive, market volatility can return. I recommend that investors look for sectors with strong growth potential and stay diversified. Being informed and adaptable is key during these times of uncertainty.
Editor: Thank you, Dr. Sharma, for your valuable perspective! It sounds like while there’s room for optimism, vigilance is crucial. We appreciate your time today.
Dr. Sharma: Thank you for having me! It’s always a pleasure to discuss the dynamic world of finance.
Editor: And thank you to our audience for tuning in. Stay connected with Time.news for the latest updates in finance and economics!