Stock Market Starts With Slight Gains, Bajaj Finance Biggest Gainer
Stock market starts with slight gains, can focus on IT-Pharma stocks.
BSE’s main index Sensex opened again on Wednesday at 59,166 points. Sensex opened 150 points higher from yesterday’s close of 59,005.
Stocks of NTPC, TechM jumped above 1 percent as soon as the market opened. At the same time, other stocks including HCL Tech, Indusind Bank also saw a rise.
Sensex made an intra-day high of 59,167 during this period. While Nifty 50 opened at 17,580 points slightly above yesterday’s close of 17,562 points.
Experts say that on Tuesday, investors focused on the shares of IT-Pharma. These stocks can give a good trend on Wednesday also.
Stock market starts with slight gains: Earlier on Tuesday, the BSE Sensex saw a strong rise of 514 points amid a positive trend globally.
Markets surged led by shares of Infosys, Bajaj Finance, and ITC. The 30-share Sensex closed at 59,005.27, up 514.34 points, or 0.88 percent.
Similarly, the National Stock Exchange’s Nifty (NSE Nifty) gained 165.10 points, or 0.95 percent, to close at 17,562 points.
Bajaj Finance was the biggest gainer with a gain of about 5 percent in Sensex shares. Apart from this, IndusInd Bank, Tata Steel, ITC, Bajaj Finserv, Tech Mahindra, and Infosys were also the main gainers.
On the other hand, falling stocks include Maruti, Bajaj Auto, Nestle India, Power Grid, and Axis Bank.
Vinod Modi, Head of Strategy, Reliance Securities, said that there was a strong rally in the domestic stock markets.
The reason for this is strong buying in stocks of companies that are considered to be relatively safe IT, pharmaceutical, and daily use goods.
He said Nifty metal also saw a strong correction as investors used the fall in prices to buy. The market was also supported by a positive trend in the global equity markets.
In other Asian markets, Hong Kong’s Hang Seng and Japan’s Nikkei ended in losses, while markets in China and South Korea remained closed for the holidays.
Europe’s major stock markets recorded a gain of one percent in afternoon trading. Meanwhile, international oil benchmark Brent crude rose 0.96 percent to $74.63 per barrel.
