The stock market is witnessing a rise for the third consecutive day on Wednesday.
The stock market witnessed a rise for the third consecutive day due to Bihar EXIT Poll and positive news regarding trade deal with America. Where Sensex was trading with a gain of more than 590 points in about 45 minutes. Due to which stock market investors gained a profit of more than Rs 4 lakh crore. The exit poll has come before the results of Bihar Assembly elections on 11 November. In which NDA is not only seen getting absolute majority, but it has also been claimed to get a big victory. The effect of which is clearly visible in the stock market also. On the other hand, US President Donald Trump has clearly said that there will be no further negotiations regarding the trade deal with India. All the things have been done. There will be an announcement regarding the deal soon. This means that the trade deal between the two countries has been completed in a positive manner. Let us also tell you what kind of figures are being seen in the stock market.
On Wednesday, the stock market is witnessing a rise for the third consecutive day. If we look at the data, the main index of Bombay Stock Exchange, Sensex, is trading at 84,432.87 points with a rise of 555.73 points at 10 am. Whereas during the trading session, the Sensex rose by 590.51 points and reached 84,462.17 points. However, the Sensex had opened with a rise at 84,238.86 points. Whereas a day earlier the Sensex had seen a rise of more than 300 points. On the other hand, the main index of National Stock Exchange Nifty 50 is trading with a gain of 151.80 points at 25,846.65 points. Whereas during the trading session, Nifty was seen at 25,864.45 points with a rise of more than 170 points.
Sectoral indices opened with gains in Wednesday's session, and buying was seen in financial, IT and oil and gas stocks. A rise of 0.7 percent was recorded in Nifty Finance Services, 0.82 percent in Nifty IT and 0.63 percent in Nifty Oil and Gas. Among other indices, indices of government bank, private bank, realty and consumer durables rose up to 0.5 per cent. Meanwhile, auto, FMCG, metal and pharma indices remained almost stable. If we talk about shares, then there is a rise in the shares of IT companies TCS, Infosys and Tech Mahindra on BSE. Shares of Tata Motors are also trading with a rise of about 3 percent. In the initial session, Reliance shares also saw a rise of about one and a half percent.
Overnight on Tuesday, the Dow Jones Industrial Average hit a record high, driven by progress toward ending the longest government shutdown in the US, while shares of Nvidia and other AI-based companies fell on new concerns about inflated valuations. Analysts believe that the domestic update will boost the market momentum, but it is not enough to bring a decisive rise and sustained rally in the markets. Investors now await the upcoming domestic inflation data, which is expected to remain subdued due to a sustained decline in food prices – raising the possibility of further easing of policy rates by the RBI.
The special thing is that due to this boom, investors in the stock market have got huge profits. If we look at the figures, the market cap of BSE on Tuesday was Rs 4,68,94,454.04 crore. Which came to Rs 4,73,06,568.7 crore during the trading session. This means that stock market investors have made a profit of more than Rs 4.12 lakh crore in less than 45 minutes in the morning. If experts are to be believed, investors are expected to get more benefits in the coming days.
