Big jump in the stock market: Sensex climbs 1016 points to 57806, all 30 stocks rise; Market cap rises by Rs 4 lakh crore
Even on the fourth day of the week, there is a huge rally in the stock market today. The Bombay Stock Exchange (BSE) Sensex is trading 1,016 points higher at 57,833. All its 30 shares are in gains. Banking stocks are supporting it. This sector had grown the most yesterday as well.
The main reason for the rise of banking stocks for two days is the increase in interest rates by the Central Bank of America. This is the first time in three years this has happened. Earlier this happened in December 2018. On Wednesday, it raised interest rates by a quarter. It is expected to raise rates seven times this year.
Market cap Rs 260 lakh crore
The market cap of the listed companies is Rs 260 lakh crore. Yesterday it was Rs 256 lakh crore. That is, there has been an increase of Rs 4 lakh crore in this. Today the Sensex opened up 804 points at 57,620. It made a high of 57,687 and a low of 57,518 in the first hour.
Axis Bank, Bajaj Finance also in uptrend
HDFC, Axis Bank, Bajaj Finance, UltraTech Cement, HDFC Bank and Asian Paints along with Kotak Bank, ICICI Bank are up 2 to 3% in its leading stocks. Along with these, Infosys shares are up 1 to 2% with SBI, IndusInd Bank, Hindustan Unilever, Bajaj Finserv, Titan, Wipro, Tata Steel, Maruti, Larsen & Toubro, TCS and Tech Mahindra.
Airtel, Reliance Industries, Nestle, PowerGrid, Sun Pharma, Dr. Reddy, HCL and NTPC are also in the ascendancy. Of the companies listed in the Sensex, 1,922 stocks are trading above and 403 below. 52 stocks are at one-year high and 3 low. 153 shares are in upper and 109 in lower circuit. That is, their prices cannot fluctuate or fluctuate more than a certain limit in a day.
Nifty crosses 17 thousand
On the other hand, the Nifty of the National Stock Exchange is up by 287 points at 17,265. It opened at 17,202 and made an upper level of 17,228 and a low of 17,178. Its four major indices, Next 50, Midcap, Bank and Financial, are up 1-2%.
47 Stock booms
Out of 50 Nifty stocks, 47 are in gains and 3 are in decline. The major rising stocks are HDFC Bank, Axis Bank, Asian Paints, Tata Consumer. Coal India, Indian Oil and ONGC are among the losers. Earlier on Wednesday, the Bombay Stock Exchange (BSE) Sensex closed 1,039 points (1.86%) up at 56,816 and the National Stock Exchange’s Nifty gained 312 points (1.87%) to close at 16,975.
