New Delhi: After two consecutive days of decline, the Indian stock market once again gained momentum on Wednesday. Both Sensex and Nifty managed to close on a strong note. A major reason for today’s rise in the market was the increase in interest rates by the Reserve Bank of India as per the forecast made earlier. Today, RBI has increased the repo rate by only 0.25 per cent as expected earlier. Apart from this, most of the shares of Adani Group had a bullish trend today, due to which the market got a lot of support.
Today, during the day’s buying and selling, there was a strong buying position in the shares of IT, metal and pharmaceutical sectors. Similarly, there was continuous buying in infrastructure and energy sector stocks. Midcap and Smallcap indices also closed with gains today. However, the banking indices ended the day trading flat. In today’s business, the biggest gains were seen in the stocks of commodities and services sector.
Due to the boom in today’s business, the wealth of stock market investors increased by about Rs 2.64 lakh crore during the day’s trading. According to the data received from the stock exchange, the total market capitalization (market capitalization) of the listed companies in BSE increased to Rs 268.68 lakh crore (provisional) after today’s trade. The market capitalization of these companies was Rs 266.04 lakh crore after the end of the last trading day i.e. Tuesday. In this way, the market cap of companies listed on BSE has increased by about Rs 2.64 lakh crore today.
Active trading took place in 3,631 shares on the BSE during the day’s buying and selling. Of these, 2,001 shares closed with gains today. 1,490 scrips remained in the red, while 140 scrips ended flat without any movement. On the other hand, 2,017 scrips saw active trading today on the NSE. Of these, 1,237 shares closed in the green mark after earning profit, while 780 shares closed in the red mark after taking losses. Similarly, out of 30 stocks included in Sensex, 25 stocks closed in green mark with the support of buying and 5 stocks closed in red mark due to selling pressure. Out of 50 stocks included in Nifty, 36 stocks closed in green mark and 14 stocks closed in red mark.
Amid mixed global cues, the Bombay Stock Exchange (BSE) Sensex today started trading at a flat level with a slight gain. The index opened at a level of 60,332.99 points with a gain of 46.95 points. As soon as the trading started, buying started in the market, due to which the movement of Sensex also increased. Shortly before 10 am, this index jumped 506.06 points to reach the level of 60,792.10 points with the support of buying. However, after this the market turned volatile.
Due to the start of profit booking in the middle of the purchase, the stock market kept fluctuating till sometime after 12 noon. But after this once again the market became dominated by the buyers. After day-long buying and selling, the Sensex ended today’s trade at 60,663.79 points, up by 377.75 points, or 0.63 percent.
Like the Sensex, the Nifty of the National Stock Exchange (NSE) also started trading today with a slight gain. This index jumped 28.80 points to open at the level of 17,750.30 points. Due to the continuous buying in the market, the movement of Nifty also increased continuously. However, as profit-booking started after 10 am, the stock market also witnessed a brief downtrend.
Till a little after 12 noon, there were constant ups and downs in the market as the tussle between the buyers and sellers continued. But after this the buyers made their entry, due to which the Nifty started moving on the path of strength. After the day’s buying and selling, the Nifty ended today’s trading at 17,871.70 points with a gain of 150.20 points, or 0.85 percent.
During the whole day’s trading, the shares of Adani Group were once again seen waving their flag. Adani Enterprises 20.04 per cent, Adani Ports 8.33 per cent, HDFC Life Insurance 5.30 per cent, Bajaj Finance 3.10 per cent and SBI Life Insurance 2.89 per cent among the heavyweights of the stock market joined the list of today’s top 5 gainers. On the other hand, Power Grid Corporation 2.24 per cent, Coal India 1.91 per cent, Larsen & Toubro 1.59 per cent, Hero MotoCorp 1.43 per cent and Eicher Motors 1.43 per cent added to the list of top 5 losers today.
