BSE and NSE saw early gains on Thursday compared to yesterday. Today, the Sensex jumped over 300 points due to the strong performance of shares of IT and auto mobile companies.
On Thursday morning, the Sensex gained 150 points to open at 51,973 and the NSE Nifty gained 39 points to open at 15,452. After this, it climbed up to 300 points in a few minutes. The Sensex rose by 325 points to reach 52,147 at around 9:15 due to domestic buying. Nifty also climbed 100 points to reach 15,513.
Due to the heavy fall in the market on Wednesday, the market was expected to fall even today, but domestic investors appeared to be betting in the opening session. On the last day of the week due to weak cues from the world market, there was a possibility of a fall in the market due to heavy profit-booking, but the opposite environment is visible in the initial work.
Many companies saw a jump in the stock under the leadership of Airtel. Today, from the beginning, investors bought fiercely in the shares of Airtel, Wipro, Maruti, ICICI Bank, UltraTech Cement, Asian Paints, TCS, M&M, Dr. Reddy Lab, Hero Motorcorp, Bajaj Auto etc.
On the other hand, selling was strong in Apollo Hospitals, ONGC, Titan Company, Power Grid Corporation, SBI Life Insurance, Reliance, HDFC, Kotak Bank. Due to this their shares came under pressure.
After a sharp rise in trading sessions on Monday and Tuesday, the domestic stock market had registered a sharp fall on Wednesday. BSE Sensex closed down 709 points. Similarly, the Nifty of the National Stock Exchange had also fallen by 225.50 points. While the Nifty closed at 15,413.30 points, the Sensex fell 709.54 points to close at 51,822.53 points.
9 paise improvement in rupee:
On the other hand, the rupee saw a correction of nine paise against the US dollar in the foreign exchange market on Thursday morning. The rupee recovered from its record low to trade at 78.23 against the US dollar. The rupee opened at 78.26 against the US dollar and touched 78.23. It has improved by 9 paise as compared to the previous bandh. On Wednesday, the rupee had fallen by 19 paise to hit an all-time low of 78.32.
Rupee recovers due to fall in crude prices:
According to Shriram Iyer, Senior Research Analyst, Reliance Securities, the Indian rupee opened strongly against the dollar today, keeping in view the further fall in crude oil prices. Crude prices fell by 2.17 percent to $ 109.32 per barrel.
Reserve Bank worried about inflation:
Meanwhile, the latest Monetary Policy Committee (MPC) meeting raised concerns over rising inflation in the country. In a statement issued on Wednesday, it has been said that inflation will have to be brought down. Efforts will have to be made to bring it within the target range. All the six members of the MPC, including the RBI Governor, were present in the meeting.
The post Stock Market: Sensex improved by 300, Nifty improved by 100 points due to domestic buying appeared first on Spotlight 7.
source https://spotlight7.com/business/stock-market-sensex-improved-by-300-nifty-improved-by-100-points-due-to-domestic-buying/
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