Amidst US President Donald Trump’s statement of continuing trade talks with India, the market witnessed a rise in the market on the third trading day of the week on Wednesday. In the beginning, at around 9:30 am, the BSE’s 30 -point Sensex closed with a 300 point gain. The Nifty is trading above 24,900. The shares of Adani Port and L&T have registered a gain of 2 per cent. At the same time, the Indian rupee rose by Rs 2 to 88.13 against the US dollar in early trade today.
Dr. VK Vijay Kumar, the main investment strategist of Geojit Financial Services, says that the biggest reason for the positive attitude shown in the market today is the steps taken by President Trump to improve Indo-US relations and Prime Minister Modi’s positive response to him. However, the kind of experience that has been, then the market should be assessed by Trump’s footsteps and not from his statements.
Asian markets also boom
Global markets are also seeing strong support at the domestic level. Japan’s Nikkei rose 0.21 percent on Wednesday. Hong Kong’s Hangseng rose 0.39 percent, South Korea’s Kospi 1.3 percent and China’s CSI 300 index rose 0.27 percent. Apart from this, American markets also increased. Dow Jones closed with a jump of 0.43 percent. S&P closed up 0.27 percent and Nasdaq 0.37 percent last night.
All major shares in green mark
Amidst the GST reform and the ongoing trade talks between India and America, the Indian market is seen to be strong for the fifth consecutive day. Along with the great performance of IT shares, all the major 16 sectors are trading in green mark. Also, the smallcap and midcap index have also recorded an increase of 0.5 percent.