On Thursday, the market fell due to tariff fears and foreign investors. Today, the market is looking bullish due to good global signals and massive buying. Apart from this, this rise has been seen due to the spectacular jump in the results of companies like ITC.
The Indian stock market fell yesterday, but today the market is witnessing a great boom. The Sensex is trading 911 points higher, while the Nifty has jumped 290 points. Bank Nifty is also trading more than 450 points higher. RIL shares have risen 1.37%. Apart from this, banking stocks like HDFC Bank, ICICI Bank and SBI are also seeing a jump.
Out of the top 30 stocks of BSE, 28 stocks were on a strong rise. The highest rise was in the stock of ITC company. This stock was trading up by about 3 percent. Apart from this, shares of Zomato, Infosys, Powergrid also showed a rise. While the shares of Sunpharma fell by about 3 percent. At the same time, Tata Motors was trading at a slight decline.
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Why did the stock market suddenly rise?
On Thursday, the market fell due to tariff fears and foreign investors. Today, the market is looking bullish due to good global signals and massive buying. Apart from this, this rise has been seen due to the spectacular jump in the results of companies like ITC. Yesterday FII sold shares worth Rs 5000 crore, while shares worth Rs 3000 crore were bought by domestic investors.
Pressure on the market in America
After the passing of President Donald Trump’s tax bill in America, there is a fear of crisis in the US. It is being said that this can increase America’s debt by up to 3.8 trillion dollars. Also, more than 8.30 lakh people can lose their jobs. After the passing of this bill, the 30-year Treasury yield touched a 19-month high, after which it decreased.
Global markets have come under pressure due to rising concerns over U.S. debt levels and the recent downgrade of the country’s credit outlook by Moody’s. Higher Treasury yields attract foreign capital to bonds, which could lead to outflows from equities in emerging markets like India.
Investors get huge profits
Amidst the boom in the stock market, the BSE market capitalization has also increased. The market cap of BSE listed companies has increased by Rs 3 lakh crore to Rs 441.98 lakh crore today. Today, the Nifty IT and FMCG index has increased by 1 percent, while pharma and healthcare shares have increased by 0.9 percent and 0.7 percent respectively.
These stocks are trading on a great rise
Reliance Power’s stock is up by more than 10 percent. IFC shares are showing a rise of more than 7 percent. Max Finance Service is trading up by 4 percent, Vishal Mega Mart up by 3 percent, Oil India up by 2.4 percent, BSE up by 2.38 percent, Zomato up by 3%, Varun Beverages up by 3.30 percent, and ITC up by 3 percent.
(Note- Before investing in any stock, please take the help of a financial advisor.)
