Share Market Update: The local stock market on Wednesday recorded a rise in a rise in 700 points amid signs of tension in West Asia after a ceasefire between Iran and Israel. The Nifty also closed with a 200 -point lead. Crude oil prices were softened in the hope of postponing the West Asia crisis. The shares of Sensex’s companies closure to the shares of Titan, Mahindra & Mahindra, Infosys, Power Grid, Tata Consultancy Services and Bharti Airtel. On Tuesday, the Sensex rose 158.32 points to 82,055.11 points and the Nifty closed 72.45 points to close at 25,044.35 points.
Analysts stated that crude oil prices were softened in the hope of postponing the West Asia crisis. Apart from this, buying in HDFC Bank, Infosys and Reliance Industries also supported investor assumption. BSE’s 30 -share standard index Sensex climbed 700.40 points, or 0.85 percent to close at 82,755.51 points. At one time during trading, it rose 760.8 points to 82,815.91 points.
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Similarly, the National Stock Exchange (NSE) standard index Nifty also climbed 200.40 points, or 0.80 percent to close at 25,244.75 points. The shares of Sensex’s companies closure to the shares of Titan, Mahindra & Mahindra, Infosys, Power Grid, Tata Consultancy Services and Bharti Airtel.
On the other hand, the shares of India Electronics, Kotak Mahindra Bank and Axis Bank saw a decline trend. Bajaj Broking said in a comment on the stock market, the standard index retained its speed for the second consecutive day. The end of the Iran-Israel struggle has raised hopes of low political tension to decrease and investor perception has strengthened.
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In the comprehensive market, the BSE Smallcap index jumped 1.59 percent, while midcap rose by 0.63 percent. In the field -wise indices, the technology segment gained 1.69 percent while the IT section rose by 1.68 percent and the telecom section 1.42 percent.
Vinod Nair, the research head of the Jiojit Investment Limited, said, the land-political stress in West Asia and the softening of crude oil prices strengthened the Indian stock markets. Although foreign institutional investors have continued capital withdrawal from the Indian market, positive global signals are helping to maintain domestic market speed.
Nair said that the forecast of monsoon rains at the domestic level and softening in retail inflation is also strengthening optimism. The shares of 2,821 companies listed on BSE rose while 1,207 shares closed down and 134 others remained unchanged.
Also Read: Stormy boom in Share Bazaar after ceasefire, big bounce in sensex, Nifty also jumped
Global benchmark Brent crude rose 1.21 percent to $ 67.95 per barrel. Other markets in Asia, South Korea’s Cappey, Japan’s Nikki, China’s Shanghai Composite and Hong Kong’s hangs closed with an increase. The European markets were trading with a mixed trend in the afternoon session. On Tuesday, the US markets saw a significant rise.
According to the stock market data, foreign institutional investors (FIIs) on Tuesday made net selling of shares worth Rs 5,266.01 crore. At the same time, domestic institutional investors (DIIs) bought shares worth Rs 5,209.60 crore. On Tuesday, the Sensex rose 158.32 points to 82,055.11 points and the Nifty closed 72.45 points to close at 25,044.35 points. (Language)
Edited by: Chetan Gour
