Share Market: Indian stock market closed with green mark amid ups and downs, Sensex rose 86 points.
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Stock Market Closing Bell: Local stock markets remained bullish for the third consecutive day on Thursday. Both Sensex and Nifty closed with gains in volatile trading amid settlement of deals in the monthly futures and options section and sluggishness in the US markets. During this period, the 30-share BSE Sensex closed at 66,988.44 with a rise of 86.53 points or 0.13 percent. The index reached a high of 67,069.89 and a low of 66,610.35 in the day’s trading. Despite huge fluctuations during trading, the combined market valuation of all listed companies on BSE remained above $ 4,000 billion for the second consecutive day. National Stock Exchange’s Nifty closed at 20,133.15, up 36.55 points or 0.18 percent. Shares of Tata Technologies and Gandhar Oil Refinery (India) Limited were listed with strong gains. This has increased expectations in the market.
The rise and fall in these stocks
Among Sensex companies, UltraTech Cement, Sun Pharma, Bharti Airtel, Mahindra & Mahindra, Wipro, Titan, Axis Bank and Bajaj Finserv gained. On the other hand, IndusInd Bank, Asian Paints, Power Grid, Reliance Industries, Tata Motors and State Bank of India remained in loss. Deepak Jasani, head of retail research at HDFC, said Asian markets witnessed their strongest rise in 10 months as investors’ sentiment strengthened due to expectations of softening of global interest rates and signs of economic recovery. European stock markets were also light in early trade. The BSE Smallcap index, which represents more stocks, rose 0.96 percent and the Midcap index rose 0.83 percent. Sector wise, there was an increase of 1.66 percent in health care, 1.61 percent in consumer durables, 1.52 percent in realty, 1.48 percent in industrial sector and 1.39 percent in capital goods. On the other hand, there was a decline in the sectors related to people-oriented services and the bank index.
How was the market of other countries?
In other Asian markets, South Korea’s Kospi, China’s Shanghai Composite, Japan’s Nikkei and Hong Kong’s Hang Seng closed with gains. European markets were trading briskly. American markets closed with a decline on Wednesday. Global oil standard Brent crude rose 0.84 percent to US $ 83.80 per barrel. According to provisional data of the stock market, foreign institutional investors (FIIs) bought shares worth Rs 71.91 crore on Wednesday.
Rupee falls seven paise to close at 83.39 per dollar
The rupee fell by seven paise on Thursday and closed at 83.39 (provisional) per dollar against the American currency. The rupee declined amid a strong dollar and rising crude oil prices in the global market. Forex analysts said crude oil prices were near $84 per barrel ahead of the announcement of the annual production target by oil producer group OPEC+. . Due to this the rupee remained under pressure. He said that investors are also waiting for the Gross Domestic Product (GDP) data to be released today. Whereas the reason for the improvement in the dollar is the expectation that the US Federal Reserve will not increase interest rates. In the interbank foreign exchange market, the rupee opened strongly at 83.31 against the dollar and in the day’s trading it reached a high of 83.29 and a low of 83.41. At the end of trading, the rupee closed at 83.39 per dollar (provisional), which is seven paise lower than the previous closing price. The rupee had closed two paise higher at 83.32 against the US dollar on Wednesday, while it had strengthened by six paise on Tuesday. Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, rose 0.42 per cent to 103.20. Brent crude futures, the global oil standard, were up one percent at $83.93 per barrel.
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