- The stock market rallied for the second consecutive session
- Sensex up 500 points
- Investors buy into bank shares today
Investors were overwhelmed by the surge in capital markets today. The Sensex has jumped 500 points since the market opened on Tuesday. The Sensex had touched 50,900 points. The boom added at least Rs 1 lakh crore to investors’ assets.
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Today, financial institutions, banks, auto, and infrastructure services are in the market. On the Bombay Stock Exchange, Ultratech Cement, HDFC Bank, Axis Bank, Bajaj Finance, ICICI Bank, IndusInd Bank, and HDFC, Asian Paint, SBI, Kotak Bank, Mahindra & Mahindra gained ten points each. Shares of ONGC, Powergrid Corporation, and Infosys have declined.
The Nifty platform of the National Stock Exchange is bullish in all sectors. The Nifty Bank Index has risen by 500 points. Nifty Financial Services grew by 1.77 percent. At present, the BSE benchmark Sensex is up 349 points at 50,790. The wide-based National Stock Exchange Nifty rose by 90 points to 15,041.
Capital market boom has benefited IPO companies. So far, 18 out of 23 IPOs have registered in the capital market. The IPO of Craftsman Automation will open on March 17. The company plans to raise Rs 824 crore from the IPO. The company has set a price target of Rs 1,488 to Rs 1,490 per share for the IPO. Asian stock markets today witnessed a mixed atmosphere.
The developments in the US Corona economic package are currently affecting major stock markets globally. Shares of India, Japan, Hong Kong, and Korea rose in Asia today.
