There was a tremendous rise in the Indian market today after the agreement between US President Donald Trump and Prime Minister Narendra Modi on trade deal and tariff reduction. After closing at a high on Monday, the market opened with record gains on Tuesday. Sensex witnessed a massive surge of 4200 points at the opening bell, significantly increasing the market capitalization of BSE. The market cap, which was at ₹4,55,03,877.32 crore at Monday’s close, increased to ₹4,78,12,017.96 crore at the opening, giving investors a profit of ₹23 lakh crore in one go. The rise in the market continued throughout the day. At the time of writing, the benchmark Sensex was trading at 83,974.65, up nearly 3 per cent. Nifty 50 was also trading around 25,812.65.
In early trade, the stock market witnessed gains across sectors, with all major sectoral indices of Nifty trading in the green. Real estate stocks were particularly bullish, with the Nifty Realty index leading the pack with gains of over 4 per cent. Strong buying was also seen in shares of auto, infrastructure, consumer durables, IT and metal sectors. Banking stocks also contributed to the market’s strength. The Nifty Private Bank index was trading around 3 per cent higher, and the Nifty Bank index was up over 2.5 per cent, clearly reflecting risk-on sentiment among investors.
Shares of Financial and Adani Group were at the top of the list of top gainers of Nifty. Adani Enterprises and Adani Ports were among the top performers, gaining nearly 9 per cent and over 7 per cent, respectively. Bajaj Finance, Jio Financial Services and Shriram Finance also witnessed gains. Infosys and Dr Reddy’s Laboratories from IT and pharma sectors also supported the market rally.
