Mumbai, June 20 (IANS). Investors were relieved due to reduced geopolitical tension in the Middle East and the Indian stock markets were recorded at the end of trading after three consecutive sessions.
The US said it is still ready to interact with Iran and will decide to support Israel within two weeks. This statement reduced the concerns of investors and the markets rose extensively.
After a strong start, both the Sensex and the Nifty ended with the end of the trading.
The Sensex closed at 82,408.17 with a gain of 1,046.30 points or 1.29 percent. During the day, the index touched an intra-day high of 82,494.49.
The Nifty also closed at 25,112.4 with a gain of 319.15 points or 1.29 percent.
Vinod Nair of Geojit Investment Limited said, “The domestic equity index bounced due to reduced the risk of immediate military action in the Middle East and the expectation of US talks with Iran.
He said that this development improved the prices of crude oil, which benefited the domestic markets and strengthened the perception of foreign investors.
Only Maruti Suzuki India was the top loser on the Sensex Front. On the other hand, Bharti Airtel was a top gainer with a gain of 3.27 percent. In addition, Mahindra & Mahindra, Power Grid and Nestle India were also included in the list of top gainers.
The broker market also participated in fast. The Nifty Midcap 100 index closed with a rise of 1.46 percent, while the Nifty Smallcap 100 index rose by 1.01 percent.
All indices on NSE closed in green mark. The Nifty reality index gained 2.11 percent to the top performance. Banking stocks saw strong purchases, all three major banking indices – Bank Nifty, Nifty PSU Bank and Nifty Private Bank increased by more than 1 percent.
The beautiful Kewat of the Ashika Institutional Equity said, “Sentment remains positive with constant shopping and strong market participation in all areas.”
Meanwhile, market fluctuations decreased. India VIX fell 4.08 percent to close at 13.67 measuring the expected fluctuations in the market.
Due to softening of crude oil prices and weakness in the dollar index, the rupee was trading positively at 86.57 with a gain of 0.15.
Jatin Trivedi of LKP Securities said, “Despite the ongoing geopolitical tensions for the last few months, continuous FIIs and DII flows in Indian markets have helped limit the rupee fall.”
-IANS
SKT/