Domestic stock market opened with boom, Sensex faster 122 points, Nifty also crosses 25,500
The domestic stock market made a strong start on Thursday. The market opened on the market green mark amidst the support of global signals and the positive sentiments of investors. The BSE Sensex was trading at the level of 83,658.20 with a rise of 122.12 points at 9.16 am. Similarly, the Nifty 50 was also at the level of 25,511.65 with a gain of 35.55 points. The shares of Tata Steel, Sriram Finance, Power Grid Corp, Axis Bank, Bajaj Finance were seen in the most gains on the Nifty, while Dr. Reddy’s Labs, Wipro, Cipla, Tata Motors and TCS shares fell the most.
In early trade, the benchmark index Sensex and Nifty declined as the investors stayed away from the market before the quarter results. IT sector company TCS is scheduled to declare its first quarter result today. According to analysts, the market was also seen vigilance due to tariff uncertainty.
Metal and realty gained 0.5 percent
According to the news, BSE midcap and smallcap index are trading with an edge. Considering sectoral stocks, the IT index dropped 0.5 percent, while metal and realty recorded an increase of 0.5 percent. Foreign portfolio investors are promoting a sectoral rotation. Fresh investment has been observed in auto and IT, while withdrawal in electricity and capital goods has been observed. Asian markets led to mixed business, Japan declined, while China, Korea and Hong Kong recorded a slight growth.
What do experts say
According to PTI news, VK Vijaykumar, the main investment strategist of Geojit Investments Limited, said that there is no possibility of breaking the narrow scope of the market in which it has been trading for more than a month. The strength of global markets and continuous capital flows in Indian markets can support the market at the lower level of this realm. Due to positive news of the trade agreement between the US and India, the Nifty can clearly get out of the upper range of 25,500. But the market is partially reduced by reducing it and therefore, this Nifty will not be sufficient to maintain a further boom from 25,500.
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