Stock market rises for the sixth consecutive day, Sensex rises 349 points, Nifty again hits new record
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Mumbai The bullish trend in local stock markets continued for the sixth consecutive trading session on Tuesday and BASE Sensex rose by 349 points. At the same time, the Nifty of the National Stock Exchange again reached a new record level. The market gained momentum due to buying in shares of banks and select companies making daily use goods. In volatile trading, BSE Sensex based on 30 shares recovered from the initial loss and closed at 73,057.40 points with a gain of 349.24 points or 0.48 percent. 18 Sensex stocks were in profit while 12 were in loss.
National Stock Exchange’s Nifty, based on fifty shares, closed at a new record level of 22,196.95 points with a gain of 74.70 points or 0.34 percent. During trading, Nifty reached its all-time high of 22,215.60 points. Major indices opened with losses but the market recovered from losses due to buying in shares of private banks and remained in profit for the sixth consecutive trading session. In the last six trading sessions, Nifty has gained 580 points while Sensex has gained 1,984 points. Vinod Nair, Head of Research, Geojit Financial Services, said, “Amidst the ups and downs, the domestic market is once again on the way to a record high.
The reason for the rise is buying in bank shares. After the recent decline in private sector banks, momentum has returned. Power Grid was the biggest gainer among Sensex companies with 4.16 percent gain. The company’s board of directors has announced an investment of Rs 656 crore in transmission projects. After that the company’s shares rose. Among private banks, HDFC Bank, Axis Bank, Kotak Bank, IndusInd Bank and ICICI Bank were major gainers.
Apart from this, there was a rise in NTPC, Nestle and Hindustan Unilever. On the other hand, among IT stocks, TCS suffered the maximum loss of 1.75 percent. Apart from this, HCL Tech, Infosys and Wipro also declined. In other markets of Asia, Hong Kong’s Hang Seng and China’s Shanghai Composite were in profit while Japan’s Nikkei was in loss. Foreign portfolio investors were net sellers.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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