Stock market surge : Sensex closes up 1,276 points, private banks top gainers
Stock market surge : Sensex closes up 1,276 points, private banks top gainers
After the decline on Monday i.e. yesterday, the Indian stock market is witnessing a bumper rally on the second trading day i.e. Tuesday (October 4). Sensex rose 1276 points to close at 58,065. On the other hand, the Nifty rose 386 points to close at 17,274. 28 out of 30 Sensex stocks have seen gains. Also only 2 stocks are seeing decline.
IndusInd Bank and Adani Ports top gainers
IndusInd Bank, Adani Ports, Hero MotoCorp Adani Enterprises, Bajaj Finance, Eicher Motors, Coal India, TCS, HDFC, JSW Steel are the top gainers in Nifty-50.
On the other hand, Dr. Reddy and Power Grid are among the top losers of Nifty.
All 11 sectoral indices of NSE rose
On the other hand, all the 11 sectoral indices of NSE are witnessing an increase. The private sector witnessed the highest growth of 2.70% with banks, financial services, IT, metal and PSU banking sector also showing growth of over 2%. Boom has been seen in Pharma, Auto, FMCG, Media and Realty sectors.
The boom has given investors Rs. 5 lakh crore was gained
Due to the boom in the market, the investors have benefited around 5 lakh crore rupees. Companies listed on BSE have a market cap of around Rs. 5 lakh crore increased to Rs. 272.93 lakh crore has happened. The broader market also saw a surge. Nifty Midcap 100 and Nifty Smallcap 100 also gained over 1%.
How did the Indian stock market boom?
Indian stock market is bullish after good results in the global market. The US market saw a strong rally this week and the first day of the month. The Dow Jones rose 765 points to 29,491 and the Nasdaq gained 240 points to 10,815. The S&P 500 is also up 2.59%. The impact of the American market was also seen in the Asian market. The SGX Nifty is also trading up 250 points at 17,100.
The market closed on Monday with a heavy fall
Indian stock markets fell on Monday on weak cues on fears of a slowdown in global markets. The Sensex closed down 638 points at 56,788. The Nifty closed down 208 points at 16,885.