Stock market: stock market on green mark, Sensex is trading near 49500
The Sensex rose more than 170 points in the key stock indices on Wednesday amid the uptrend in global stock markets in anticipation of fresh stimulus package in the US. During this period, IT, FORMA and energy stocks gained momentum. According to the US, the Indian stock was seen in the air fast in the hope of announcing a large fiscal stimulus package in the US.
On the BSE, the 30-share Sensex opened at 49,508.79, reaching a record high of 49,595.64, registering further gains. The Sensex closed at 49,398.29 on Tuesday. The NSE Nifty was up 52.25 points or 0.36 percent at 14,573.40.
Owaisi rose 1.33 percent and Reliance 0.42 percent in the Sensex. Among IT stocks, HCL Tech rose 1.15 per cent, Tech Mahindra 1.14 per cent, TCS 0.85 per cent and Infosys 0.15 per cent. However, HUL, ITC, HDFC Bank, IndusInd Bank and Bharti Airtel declined.
The Sensex closed up 834 points on Tuesday, with the general budget expected to focus on infrastructure, health and manufacturing. Foreign investors, including domestic ones, cast molds on shares of HDFC and HDFC Bank, ICICI Bank and Reliance Industries, which had a large weight in the Sensex before the Budget. Due to this, the Sensex rose 834.02 points to 49,398.29 points and the NSE Nifty rose 239.85 points to 14,521.15 points.
Prior to the Budget, investors raised confidence of retrenchment of large companies with better results for companies in the December quarter. At the same time € against the dollar is also strengthening.
The introduction of Corona cake creates a positive atmosphere in the market. Foreign investors continue to invest in the Indian market. The total investment till January 18 in January stood at 17,437 crores. A strong recovery in the Chinese economy led to a spectacular growth in the Chinese market.