Share market update news: Encouraged by the strong figures of economic growth, the domestic stock market came climbing on Monday, recovering from the decline of 3 consecutive days. The Sensex jumped 555 points, while the Nifty gained 198 points. Analysts said that the market gained momentum by the purchase of information technology (IT), vehicles and banks amid favorable investor perception. On Friday, the Sensex fell 270.92 points to 79,809.65 points and the Nifty fell 74.05 points to close at 24,426.85 points.
The BSE’s 30 -share standard index Sensex closed at 80,364.49 points with a gain of 554.84 points, or 0.70 percent. At one time during trading, the index rose 597.19 points to 80,406.84 points. The NSE’s 50 -share index Nifty closed at 24,625.05 points with a gain of 198.20 points, or 0.81 percent.
In this way, the domestic stock market was successful in recovering from the fall of the last three seasons. In these three sessions, the Sensex fell by 1,826.26 points i.e. 2.23 percent and the Nifty by 540.9 points, or 2.16 percent. On Monday, 23 companies involved in the Group of Sensex closed up. Of these, Mahindra & Mahindra, Tata Motors, Trent, Eyonel, Asian Paints and Infosys were prominently benefited. However, shares of Sun Pharma, ITC, Hindustan Unilever and Titan declined.
Also Read: Share Bazaar in the sixth consecutive day, Sensex beyond 82 thousand, Nifty also boom
According to data released on Friday, India’s economy increased at a rate of 7.8 percent in the April-June quarter, which is the highest among the five quarters. However, due to increasing fees on Indian products to 50 percent tax from the US, major exports like textile, leather and gem-jewelery are under threat.
Vinod Nair, the research head of Geojit Investments Limited, said, India’s first quarter GDP growth has been more than 7.8 percent of the estimate, which has strengthened the trust of investors in the combination of the economy amid global uncertainties.
Also Read: GST tax reforms announced out in Share Bazaar, Sensex 676 points rose, Nifty was also in edge
Nair said, the hopes of making the tax system rational in the upcoming meeting of the GST Council are strengthening the investor perception and promoting conscience carefully. This optimism is benefiting areas like vehicle and sustainable consumer goods.
In the broad market, the BSE Midcap index of the medium companies climbed by 1.64 percent, while the small companies’ Smallcap index rose by 1.49 percent. The vehicle section rose by 2.68 percent to a maximum 2.68 percent while the durable consumer segment gained 2.07 percent, the discretionary consumer segment two percent and capital product segment 1.93 percent. Out of the companies listed on the BSE, 2,796 shares climbed down while 1,391 shares fell and 193 others remained unchanged.
Ajit Mishra, Senior Vice President (Research), Railways Broking Limited, said, the market made a positive start of the business week with better GDP figures of the June quarter. In the second part of the session, the index closed firmly due to purchases in select veteran companies.
Also Read: FII’s return out in Share Bazaar, Sensex 746 points, NIFTY also gained momentum
China’s Shanghai Composite and Hong Kong’s hangs in other markets in Asia were closed in a positive scope while South Korea’s Capsy and Japan’s Nikki closed down. The Europe markets were trading mostly with an increase. The US markets closed down on Friday. Global oil standard brent crude rose 0.92 percent to $ 68.10 per barrel.
Foreign Institutional Investors (FIIs) on Friday made a net selling of shares worth Rs 8,312.66 crore while domestic institutional investors (DIIs) bought shares worth Rs 11,487.64 crore. On Friday, the Sensex fell 270.92 points to 79,809.65 points and the Nifty fell 74.05 points to close at 24,426.85 points. (Input agency)
Edited by: Chetan Gour
