The impact of the positive signals of the ongoing economic talks between America and China at the global level was clearly visible on the Indian stock market. A tremendous rise was recorded in the domestic market in Thursday’s trading session, which led to a huge increase in the wealth of investors.
Strong buying was seen in the major indices till the market closed. Benchmark index Sensex closed with a gain of about 790 points, while Nifty also registered good gains. Due to this boom, investors’ wealth is estimated to increase by thousands of crores of rupees in a single day.
Global signals supported the market
According to experts, the easing of trade tensions between the US and China and signs of progress in negotiations created a positive environment in the global markets. This had a direct impact on the Indian market and investors started buying all around.
Buying from foreign institutional investors (FIIs) was also seen, which further strengthened the market.
Which sectors saw the maximum growth?
Strong buying was seen in many sectors in today’s business-
Sharp rise in banking and financial stocks. Strong recovery in IT sector. Good buying in auto and metal stocks too. Rise in midcap and smallcap stocks too.
What signals for investors?
Market experts say that this rise is mainly the result of global sentiment and short-covering. However, further market direction will depend on US economic data, interest rates and global geopolitical events.