Bullish trend in stock market continues, investors earned Rs 5 lakh crore

Mumbai (Uttam Hindu News) – Despite the decline in the world market, the stock market remained bullish for the second consecutive day today due to local buying in seventeen groups including IT, Tech, Consumer Durables and Realty. BSE’s 30-share sensitive index Sensex rose by 306.55 points to reach 65982.48 points and National Stock Exchange (NSE) Nifty rose by 89.75 points to reach 19765.20 points. Similarly, BSE Midcap jumped 0.52 percent to 33,290.40 points and Smallcap rose 0.52 percent to 39,455.87 points. Due to the bullish trend in two sessions, investors have earned more than Rs 5 lakh crore. According to a media report, most of the IT stocks gained well on the hope that the US Federal Reserve will not increase the rates. The US is a key market for major Indian IT services companies. They earn a significant portion of their revenue from the US. Amid mixed global cues, the market advanced led by IT majors including Infosys, TCS and HCL Tech.

During this period, shares of a total of 3874 companies were traded in BSE, out of which there was buying in 2011, while there was selling in 1740, while there was no change in 123. Similarly, there was a rise in 32 companies of Nifty while there was a decline in the remaining 18. Barring FMCG, banking and metals group which fell up to 0.27 per cent on BSE, shares of remaining 17 groups made gains. During this period, IT 2.59, Tech 2.13, Commodities 0.07, CD 0.64, Energy 0.38, Financial Services 0.06, Healthcare 0.98, Industrials 0.19, Telecom 0.68, Utilities 0.32, Auto 0.94, Capital Goods 0.03, Consumer Durables 1.01, Oil & gas 0.84, power Shares of 0.25, Realty 0.98 and Services group were 0.27 percent stronger.

There was a declining trend at the international level. During this period, Britain’s FTSE fell by 0.45 percent, Japan’s Nikkei by 0.28, Hong Kong’s Hang Seng by 1.36 and China’s Shanghai Composite fell by 0.71 percent. However, Germany’s DAX gained 0.33 percent.