Sensex continues to rise (indicative picture)
The Sensex rose 149 points to reach its new record high of 60,284 points on Tuesday due to buying in shares of banks, auto and consumer durables companies. The upward trend continued in the Sensex for the fourth consecutive trading session. In volatile trade, the 30-share BSE Sensex rose 148.53 points, or 0.25 per cent, to reach its all-time high of 60,284.31 points.
During trading, it remained in the range of 59,885 points from 60,332 points. Similarly, the Nifty of the National Stock Exchange closed at 17,991.95 points with a gain of 46 points or 0.26 percent.
The rise in these stocks
This is also a new record for Nifty. Among the Sensex companies, Titan’s stock climbed more than five percent. Shares of Bajaj Auto, Bajaj Finserv, SBI, Nestle India, ITC, Axis Bank and Tata Steel were also gainers. On the other hand, HCL Tech, Tech Mahindra, UltraTech Cement, TCS and Sun Pharma declined. The Sensex has gained 1,095 points or 1.84 per cent in the last four trading sessions. On the other hand, Nifty has been in profit of 345 points or 1.95 percent. BSE Midcap and Smallcap rose up to 0.65 per cent.
S Ranganathan, Head of Research, LKP Securities said, “During the day’s trading, there was a lot of movement in the stocks of public sector banks. Shares of two-wheeler and consumer durable companies were also in demand. However, there was a process of profit-booking in the shares of IT companies. The market was supported by buying in metal stocks led by aluminum in the last hour of trading.
fall in these stocks
Vinod Nair, Head of Research, Geojit Financial Services, said, “A weak start to the quarterly results session led to a selloff in IT stocks. For this, the sentiment here was also affected by the weak global trend. Due to this, the domestic market remained in negative territory for most of the time. He said the market finally closed on a positive note with strong support from public sector banks and consumer durables companies.
In other Asian markets, China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi declined. European markets also declined in early trade. Meanwhile, the international benchmark Brent crude oil rose 0.26 percent to $ 83.87 a barrel. The rupee lost 16 paise to close at 75.52 per dollar in the interbank foreign exchange market.
what was the condition of the last session
In the previous session, the 30-share index was up 76.72 points or 0.13 per cent at 60,135.78 and the Nifty climbed 50.75 points or 0.28 per cent to end at an all-time high of 17,945.95. Foreign institutional investors (FIIs) were net sellers in the capital market and sold shares worth Rs 1,303.22 crore on Monday, according to stock market data. In other major stock markets of Asia, Shanghai, Hong Kong, Tokyo and Seoul were trading with losses in mid-session deals. Meanwhile, international oil benchmark Brent crude was down 0.07 per cent at $83.59 per barrel.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.