investors became more and more wealthy 9 lakh crores, as bulls used to rule the Indian stock markets in three days. The 30-share BSE benchmark Sensex today jumped 712.46 points or 1.25% to close at 57,570.25, its highest in three months, led by strong buy support in metals, banking and energy stocks.
This is the third consecutive day of rally in stocks Market, Yesterday, the Sensex had gained 1041.47 points or 1.87%. The benchmark has climbed 2,301.76 points or 4.16% in three days.
The continuation of the uptrend has added 9,03,574.58 crore for the market capitalization of BSE-listed firms, which is now 2,66,58,604.02 crores.
“Domestic equities continued their northward journey for the third consecutive day on the back of healthy corporate earnings and positive global cues,” Siddharth Khemka, head of retail research, Motilal Oswal Financial Services Ltd, was quoted as saying by the news agency. PTI,
Analysts said moderation in commodity prices, reduction in selling intensity by foreign institutional investors (FIIs) and a better-than-expected earnings season have led to a correction in the markets.
Ajit Mishra, VP-Research, Religare Broking Ltd, said today, “Market traded strong for another session and gained over one per cent.”
In the broader market, the BSE Smallcap gauge rose 1.38% and the Midcap index climbed 1.01% today.
Top gainers in the Sensex were Tata Steel, Sun Pharma, Bajaj Finserv, IndusInd Bank, Infosys, Asian Paints, Reliance Industries and Bajaj Finance.
Dr Reddy’s, Kotak Mahindra Bank, State Bank of India, ITC and Axis Bank were among the laggards.
Buying support was across the board. Of the 30 stocks that were part of the benchmark Sensex, only five ended in the red.
Dr Reddy’s Laboratories down 3.96% 4090.35. Kotak Bank, SBI, ITC and Axis Bank also closed in the red.
All BSE sectoral indices ended in the green, with metals rising the most at 4.59%, followed by energy (2.41%), basic materials (2.30%), oil and gas (2.21%), IT (1.71%), Tech ( 1.68%) and consumer durables (1.47%).
with agency input
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