The stock markets recovered from the initial fall on Monday and remained on the rise for the third consecutive trading session. BSE Sensex rose 787 points, while NSE Nifty reached near 23,000 points. The market remained positive due to softening of crude oil prices amid reports of ceasefire efforts in West Asia. According to traders, good buying in bank and IT shares and strengthening rupee also supported investor sentiment. The special thing is that the stock market has seen a rise for the third consecutive day. Let us also tell you what kind of figures are being seen after the closure of the stock market.
Stock market rises for the third consecutive day
In volatile trading, BSE Sensex based on 30 shares closed at 74,106.85 points, up 787.30 points or 1.07 percent. At one time during trading it had climbed 887.91 points to reach 74,207.46 points. Of the BSE listed stocks, 3,207 were in gain while 1,147 were in decline. Whereas the price of Rs 190 remained unchanged. NSE Nifty based on fifty shares closed at 22,968.25 points, up 255.15 points or 1.12 percent. Ajit Mishra, Senior Vice President (Research), Religare Broking Limited, said that along with the improvement in crude oil prices, global risk sentiment also improved due to the news of possible ceasefire in West Asia.
Which stocks rose?
Among the companies included in Sensex, Trent had the highest rise of 7.89 percent. Apart from this, Axis Bank, Titan, Larsen & Toubro, UltraTech Cement and Bajaj Finance were also major gainers. On the other hand, shares of Reliance Industries, HCL Tech and Sun Pharma remained in loss. Vinod Nair, Research Head, Geojit Investments Limited, said that good growth was seen in the domestic stock markets. The market was supported by buying at lower levels in all sectors. There was some softening in crude oil prices due to the news of ceasefire efforts… which had a positive impact on the market. However, risk appetite still remains cautious due to concerns about rising inflation and potential disruptions to global trade, he said.
Reduction in crude oil prices
Global oil standard Brent crude fell 0.71 percent to $ 108.3 per barrel. In other markets of Asia, South Korea’s Kospi and Japan’s Nikkei closed with gains. Hong Kong and Shanghai remained closed due to holidays. American and domestic stock markets were closed on Friday due to Good Friday. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 9,931.13 crore on Thursday. However, domestic institutional investors (DIIs) bought shares worth Rs 7,208.41 crore. On Thursday, Sensex closed at 73,319.55 points with a gain of 185.23 points while Nifty closed at 22,713.10 points with a gain of 33.70 points.