The Indian stock market saw a slight increase on the third trading day of the week i.e. Wednesday. The Sensex of Bombay Stock Exchange (BSE) closed up 143.91 points to close at 81,481.86. At the same time, the Nifty of the National Stock Exchange (NSE) climbed 33.95 points to reach 24,855.05. This was the second consecutive day when the market closed on the green mark, causing confidence in investors.
Midcap and smallcap stocks also rise
Midcap and smallcap stocks also contributed to this market strength. The BSE midcap index recorded a gain of about 0.4% and the Smallcap index 0.6%. It is an indication that investors have confidence not only in big companies, but also in medium and small companies.
Which sectors showed strength
The main reason for this boom in the market was the strength of some major sectors. Financial, IT, auto and consumer durables sector saw shopping.
IT sector: IT shares were boom due to good quarterly results of some big companies and positive signals from the US market.
Financial Sector: Investors remained interested in banks and financial companies.
Auto Sector: The atmosphere of purchasing in this sector created an atmosphere in this sector due to the estimate of auto sales data and improvement of monsoon conditions.
Top Gainers and Louquars
Sensex included in the top gainers:
Infosys
Tata motors
Kotak mahindra bank
Nestle india
Mahindra & Mahindra
The shares of these companies recorded a rise ranging from 1% to 2.5%.
Stayed in the top loses there:
NTPC
Bharti airtel
Power Grid
Tata steel
Some of these shares saw profits.
Signs received from foreign markets
The Asian markets were mixed with mixed stance, but the US Federal Reserve hoped to take a soft trend on interest rates globally gave relief to investors. This also affected the Indian market in a positive form.
Investors’ mood
The instability that remained in the market for the last few days now shows some stability. Investors are confident that domestic economic indicators (such as manufacturing data, GDP growth etc.) will be positive in the coming days, which will give further support to the market.
What is the strategy ahead?
Experts believe that the market is currently in the overbott zone, so there is a possibility of profit booking on new heights. However, for long -term investors, this time may be to invest through SIP in good stocks. Those who monitor the market are also saying that the next focus will be on the corporate quarterly results and the monetary policy meeting of the Reserve Bank.