The stock market witnessed a rise on Wednesday, removing the pressure of Tuesday’s decline. The special thing is that about 8 hours before the policy announcement by the US Federal Reserve, stock market investors earned more than Rs 3 lakh crore. Where Sensex saw an increase of 369 points. On the other hand, Nifty closed after crossing 26 thousand points. If experts are to be believed, the Federal Reserve may announce a cut in interest rates. On the other hand, investment by foreign investors is also boosting the stock market. Apart from this, the impact of the trade deal between America and China and the fall in crude oil prices has also been seen. The stock market also appeared to be getting support due to the rise in rupee. Let us also tell you what kind of figures have been seen in the stock market.
Increase in Sensex and Nifty
Bombay Stock Exchange’s main index Sensex closed at 84,997.13 points, rising by 368.97 points or 0.44 percent. At one time during trading it had increased by 477.67 points to reach 85,105.83 points. On the other hand, the main index of National Stock Exchange Nifty 50 also increased by 117.70 points or 0.45 percent and closed at 26,053.90 points. However, during the trading session Nifty had reached 26,097.85 points. The special thing is that Nifty has closed beyond 26 thousand points for the first time in the current year. On Tuesday, Sensex fell 150.68 points to 84,628.16 points and Nifty closed at 25,936.20 points with a loss of 29.85 points.
condition of foreign markets
In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite closed with gains. Most of the markets in Europe were trading with gains. On Tuesday, American markets closed in positive territory. Meanwhile, foreign institutional investors (FIIs) have started buying again in the Indian market. According to stock market data, FIIs made net purchase of shares worth Rs 10,339.80 crore on Tuesday. Global oil standard Brent crude rose 0.23 percent to $ 64.55 per barrel.
What are the experts saying?
Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic market closed on a strong note due to positive signals from Asian markets and clarity on global trade dynamics. Optimism about possible progress in India-US trade talks also strengthened sentiment. Nair said that investors are waiting for the upcoming decision of the Federal Reserve and the possibility of a rate cut of 0.25 percent is being expressed. Along with this, the future outlook will also be known from the comments of the Federal Reserve.
Earning more than Rs 3 lakh crore
Due to the boom in the stock market, market investors have earned a good amount of money. If we look at the figures, stock market investors have gained more than Rs 3 lakh crore. The earnings of market investors are linked to the market cap of BSE. On Tuesday, when the stock market closed on the red mark. Then the market cap of BSE was Rs 4,71,11,090.52 crore, which came down to Rs 4,74,28,886.04 crore after the market closed on Wednesday. This means that stock market investors have gained a profit of about Rs 3.18 lakh crore.