Share Market: The Indian stock market saw a tremendous rise on Thursday. The BSE Sensex jumped at 1200.18 points, or 1.48%, closed at the seven -month high at 82,530.74, while NSE Nifty climbed 395.20 points i.e. 1.60% to close at 25,062.10. This level was last seen on 15 October 2024. The boom came due to speculation of a possible zero-fee trade agreement between India and the US, which was strengthened by the comments of US President Donald Trump.
The Sensex traded in a limited range in the first part of the session, but it gained a tremendous rise in the afternoon. The index of banking, auto, IT and oil-and-gaid sector accelerated the index. In day trading, the Sensex touched the upper level of 82,718.14, which shows a gain of 1,387.58 points, or 1.70%. 29 out of 30 shares included in the Sensex closed in green mark, with Tata Motors gaining over 4%. Other major profit -earning stocks included HCL Tech, Adani Ports, Ematron, Maruti, Reliance Industries, Asian Paints, HDFC Bank, ICICI Bank, Bharti Airtel and Infosys. IndusInd Bank was the only share that closed to loss.
Midcap-smoolcap also boom
Detailed market also participated in this rally. The BSE Midcap Index rose 0.67% and the smallcap index 0.94%. All the sectoral index closed in the green mark, with the Nifty Realty, Auto and Metal Index up with a gain of about 2%. There was a total increase in 2,639 shares on BSE, 1,325 declines and 150 shares did not change. The total market capitalization of companies listed in BSE increased by about Rs 5 lakh crore to Rs 440 lakh crore, which led to a huge increase in assets of investors.
Reasons behind speed
Market analysts credited this bounce to global positive signs and domestic factors. He said that positive signs being received by the decline in domestic inflation and the trade agreement by the US have supported the market. Foreign institutional investors (FIIs) invested Rs 931.80 crore in the Indian equity market on 14 May. Since April 15, FII has so far invested a total capital of more than Rs 50,000 crore in the Indian market, which reflects their confidence in the market stability.
Global market trend
Globally, Asian markets performed together. South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng closed down. European markets were also mixed with mixed trend, while the American markets closed at a mixed level on Wednesday. Global oil benchmark Brent crude fell 3.65% to $ 63.68 per barrel, which has reduced the supplies crisis to some extent.
Performance of last session
On May 14, the Sensex climbed 182.34 points i.e. 0.22% and Nifty 88.55 points or 0.36% to close at 81,330.56 and 24,666.90 respectively. Experts believe that the existing boom of the market is being seen with cautious optimism. The level of 25,200–25,300 for Nifty is being seen as resistance (resistance) and 24,590 support (support). The talks on the Indo-US trade agreement are gaining momentum, making the market perception strong. However, high valuation and global geopolitical uncertainties demand vigilance.
Top gainers of Nifty 50
- • Hero MotoCorp: +6.17%
- • JSW Steel: +4.82%
- • Tata Motors: +4.30%
- • Trent: +3.80%
Experts believe that if the Nifty is decisively (firmly) closes above 25,000, it can move towards 25,200–25,300. At the same time, if it falls below 24,590, then a situation of profit booking can be created. Investors are currently advised to focus on the shares of large companies (large-caps) in view of global uncertainties, as the market direction in the near future will depend on the progress of the Indo-US trade agreement.
