- The Sensex and Nifty rose for the fourth straight session today.
- The Sensex was up 50,000 points and the Nifty was up 15,000 points.
- The gains in the afternoon session saw a break in the Sensex
Sensex rise: Investors were relieved that the US Federal Reserve, which is the central bank of the United States, has kept interest rates low. However, their buying of Chauffeur sent a surge in the capital market. The Sensex and Nifty rose for the fourth straight session today.
At present, the Sensex is up 213 points at 49971 points. The wide-based National Stock Exchange Nifty rose 66 points to 14,931. Earlier in the day, the Sensex had jumped 567 points. It had gone up to 50,300. After that, the Nifty rose by 150 points to 15,100 points.
Today’s session saw a surge in buying in banks, financial institutions, auto and pharma sectors. Bajaj Finance, Bajaj Finserv, Reliance Industries, ONGC, TCS, Infosys, Axis Bank, HUL, Ultratech Cement, Dr. Shares of Reddy’s Lab, Sun Pharma, Mahindra & Mahindra, HDFC, ITC, NTPC were up. Shares of Titan, L&T, HDFC Bank, Tech Mahindra, Nestle, Maruti, Bharti Airtel, Asian Paints, SBI, and Kotak Bank declined.
Meanwhile, gains in the afternoon session pushed the Sensex higher. The Sensex had lost 150 points. Given the intensity of the second wave of the corona, the stock index has seen similar fluctuations over the next six to eight months. The Nifty is expected to hover between 14,000 and 16,000, said Vijay Kedia, a stock market analyst at Value Investors.
Today, the rupee has performed well against the dollar. Rupee appreciates against the dollar for the third straight session It went to the level of 74.10. The rupee had gained 26 paise against the dollar on Wednesday. Today saw special buying in the metal sector. Investors preferred to buy good stocks as they were futures. Among metal stocks, Jindal Saw, JSW Steel, Tata Steel, SAIL, and Nalco gained.
Meanwhile, the second wave of corona has exacerbated the crisis on the economy. However, despite this, the market has started buying. However, investment advisers have advised retail investors to be cautious about the surge.