Share Market Highlights: Domestic stock markets rose sharply on Thursday and the BSE Sensex crossed the 83,000 mark for the first time. At the same time, Nifty also closed at its highest level ever. Experts say that the markets reached new heights due to the rise in global markets and heavy buying in the shares of major companies. In the domestic stock markets on Thursday, there was a lot of buying in the shares of major companies in the last one hour of the trading session. This led to a stormy rise in the market and the Sensex jumped 1,593 points. Nifty also saw a strong rise of 395 points.
These sectors of the stock market saw a boom: Along with the big companies, there was a lot of buying in the shares of mid and small cap companies as well. A total of 4069 companies’ shares were traded on BSE, out of which 2337 rose, while 1609 fell. There was no change in 123. Similarly, there was buying in 49 Nifty companies, while there was selling in one.
7 reasons for the boom in the stock market
1. The European Central Bank cut interest rates
2. US Federal Reserve is also expected to cut prices
3. Positive environment created in global markets
4. Foreign investors increased buying in three days
5. Retail inflation in the country is within the prescribed range
6. Small investors increased investment in big companies
7. Crude oil fell below $ 70 per barrel
The market was struggling till noon
Nifty and Sensex opened strongly in the morning and struggled till noon. Before 2 pm, Sensex had touched a low of 81,534. Nifty also slipped from the 25000 level. The market started to rise around 2 pm. In the next half an hour, Sensex rose by more than 800 points and Sensex closed with a gain of 1440 and Nifty with a gain of 395 points.
What do experts say
Analysts say that the bulls took charge in the market before the end of trading and both the standard indices reached new heights. The global market got positive momentum due to the expectation of the European Central Bank and the US Federal Reserve cutting the policy rate.
Foreign investors became buyers: Foreign institutional investors have changed their stance in the Indian stock market and increased capital flow. On Thursday, they bought shares worth Rs 7695 crore. Earlier on Wednesday, they had bought shares worth Rs 1,755 crore.
