There was a tremendous rise in the Indian stock market on Wednesday. Sensex and Nifty witnessed impressive gains in the last few hours of trading, which led to a significant increase in investors’ portfolios. The BSE Sensex closed 487.20 points or 0.60% higher at 82,344.68, while the Nifty closed 167.35 points or 0.66% higher at 25,342.75.
Of the top 30 BSE stocks, only 8 were in the red, while the remaining 22 saw good gains. BEL shares were the biggest gainers, rising 8.90% to ₹453. After this, ETERNAL shares rose by 5% to ₹266. Shares of Bajaj Finance, Finserv, Trent and Power Grid also rose up to 2%. Shares of Maruti Suzuki, Sun Pharma, Infosys and Airtel closed with losses.
Investors benefited greatly
Mid-cap and small-cap stocks also witnessed strong growth in the stock market. Nifty Midcap 100 gained 954 points, while Nifty Smallcap 100 gained 371 points. This led to a tremendous boost in investors’ portfolios. The market capitalization of BSE increased from ₹453.67 lakh crore to ₹459.64 lakh crore, an increase of about ₹6 lakh crore.
Why did the stock market rise?
The biggest reason for the rise in the Indian stock market on Wednesday is being considered to be the free trade agreement between India and the European Union. Under this agreement, both countries have agreed to impose low or zero tariffs on most goods. It is expected that this deal will boost India’s exports, which will benefit many companies. This has changed the atmosphere in the stock market. Meanwhile, large-cap, mid-cap and small-cap stocks also witnessed good gains, leading to considerable buying. There was particularly strong buying of these stocks in the hours before market closing.
These stocks gained 20%:
Shares of Sterlite gained 20% today, taking it to ₹103. Tejas Networks shares rose 15%, Data Patterns shares rose 13.63%, Hindustan Copper shares rose 12.67%, Oil India shares rose 9%, and Motilal Oswal shares rose 8%.