After a big fall last week, the stock market witnessed a tremendous rise on Friday. In early trading, Nifty rose 200 points to above 85,860 and Sensex rose 743 points to above 84,130. Currently, Nifty is up 115 points at 25780, while Sensex is trading above 83,900, up 550 points. Market sentiment remains broadly positive due to strong buying in IT, banking, financial and PSU bank stocks. Realty and metals are also showing strength, while FMCG remains stable. Some defensive and healthcare sectors are lagging behind, indicating a lighter risk-on environment with leadership from growth and rate-sensitive sectors.
Of the top 30 BSE stocks, only 7 are trading with marginal losses, while the remaining 23 are showing strong gains. Infosys shares have gained more than 5 percent. Tech Mahindra has also jumped more than 3 percent. Shares like Mahindra & Mahindra, Bajaj Finance and Reliance have also shown strong gains.
Profit of ₹2 lakh crore
The market capitalization of BSE, which was ₹468.18 lakh crore in the previous session, has increased by ₹2 lakh crore to ₹470.20 lakh crore today. This means that investors’ wealth has increased by ₹2 lakh crore.
These shares rose by up to 17 percent
Shares of Wardwizard Innovation and Mobility Limited are seeing a rise of 16.59 percent today, taking the share price to ₹10.12. Shares of Antelopes Seylan Energy are up almost 15 per cent and trade at ₹509. Patel Engineering shares have gained 13 percent. Shares of Angel One have also increased by 8 percent. Genentech shares also rose 8 percent, and Federal Bank shares gained 5 percent.
152 shares touched upper circuit
Of the 4,051 stocks on BSE, 2,284 stocks advanced, and 1,554 declined. 213 shares remained unchanged. 72 shares touched their 52-week high, and 157 shares touched their 52-week low. 152 shares were trading on the upper circuit, while 121 shares were on the lower circuit.
Why did the stock market rise today?
Investors made strong purchases in IT, banking, financial and PSU banking stocks, creating a positive environment in the market. Infosys shares rose more than 5 percent. Large-cap stocks like Reliance and Mahindra & Mahindra also saw good gains.
Several Middle East countries (such as Saudi Arabia, Qatar and Oman) made diplomatic efforts for about 72 hours to stop the US-Iran conflict. These countries stressed the need for dialogue. The Iranian ambassador said that Trump had called the Iranian side and said that America would not attack at the moment. This news has reduced the geopolitical tension around Iran.
In the vote count of Maharashtra Municipal Corporation elections, Bharatiya Janata Party (BJP) is leading on 19 seats, while Shiv Sena is leading on 9 seats. The alliance is ahead on 12 seats. BJP’s rise is helping in creating a positive environment in the stock market.
