Share Market Update: The local stock market continued to rise in the fourth consecutive trading session on Thursday and the BSE Sensex rose by 1,509 points. At the same time, the National Stock Exchange’s Nifty increased by 414 points. Investors appeared excited after foreign institutional investors invest in the domestic stock market amidst the hope of successful business talks between the US and Japan. The BSE Sensex rose 309.40 points on Wednesday while NSE Nifty gained 108.65 points. The stock markets will remain closed on the occasion of ‘Good Friday’ on Friday.
The BSE Sensex based on thirty stocks closed at 78,553.20 points, re -gaining a level of 78,000 points to the 78,000 points. At one time it climbed to 1,572.48 points during trading. The BSE was in a 2,427 shares gained, while 1,522 declined. There was no change in the price of 157. The Nifty of the National Stock Exchange also closed at 23,851.65 points with 414.45 points, or 1.77 percent.
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In the four -day rise, the Sensex has risen 4,706.05 points, or 6.37 percent, while the Nifty was in a gain of 1,452.5 points, or 6.48 percent. Lemon Markets Desk analyst Satish Chandra Aluri said, the standard indices recorded a sharp lead on Thursday and rapidly ended the weeks of four consecutive sessions. Shares of Majholi and small companies also closed with an increase.
He said, after a sharp decline in American indices, weakened global signals opened in market losses. After the initial tremors, the market returned to the boom and finally it closed with a good lead. The reason for this is that investors are now eyeing domestic factors like quarterly results of companies….
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Among the companies included in the Sensex. (Earlier Jomato) ICICI Bank, Bharti Airtel, Sun Pharma, State Bank of India, Bajaj Finserv, Kotak Mahindra Bank and Reliance Industries were prominently benefited. On the other hand, the shares of Tech Mahindra and Maruti remained at the loss. The BSE Midcap index connected to Majholi companies rose 0.56 percent while the smallcap index belonging to small companies was in profit of 0.52 percent.
According to the stock market data, foreign institutional investors (FIIs) on Wednesday bought shares worth Rs 3,936.42 crore. On Tuesday, FII bought shares worth Rs 6,065.78 crore. Other markets in Asia, South Korea’s Korea, Japan’s Nikki, China’s Shanghai SSE Composite and Hong Kong’s Hangseng were in profit.
There was a decline in the afternoon trading in the major markets of Europe. The US market was declining on Wednesday. The US and Japan are currently negotiating on counter -duty. Its purpose is to make bilateral trade agreement. Investors are expecting positive results.
Jiojit Investments Ltd. Research head Vinod Nair said, “Shares of big companies (large cap) led by financial companies saw a good rise.” Financial companies remained in increase in the hopes of improving margin due to change in interest rate on savings deposit. Apart from this, the perception of FII buying has also become positive. However, there is uncertainty about this rapid attitude.
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He said, however, the hopes of positive results of trade talks between the US-Japan and the reduction of business tension between China and America have strengthened the perception in the domestic market. Apart from this, there has also been a positive impact on the market due to reduction in inflation and its satisfactory level.
Global oil standard brent crude rose 0.94 percent to $ 66.47 per barrel. The BSE Sensex rose 309.40 points on Wednesday while NSE Nifty gained 108.65 points. The stock markets will remain closed on the occasion of ‘Good Friday’ on Friday. (Language)
Edited by: Chetan Gour
