stock market
As soon as the Indian stock market opened on Friday morning, Sensex and Nifty gained rocket speed and there was greenery all around. In early trading itself, Sensex took a huge jump of 967 points and reached the level of 74,799. At the same time, Nifty also did not lag behind and rose by about 275 points and crossed 23,437. Common investors have directly benefited from this stormy boom. Within a few minutes, there was a huge increase of about Rs 6 lakh crore in the wealth of investors. The biggest reason behind this bumper surge in the market is Donald Trump’s statement in which he has talked about an important agreement between America and Iran. This news has created a very positive environment in the market.
Trump’s statement changed the entire atmosphere
The main reason for this sudden and rapid buying in the market is a positive news received from the foreign front. US President Donald Trump has announced that a major agreement has been reached between America and Iran. This document is being finalized. He also claimed that it will be signed in the coming days, which will reopen the important trade route of the Strait of Hormuz. The news of this diplomatic peace has led to a softening of crude oil prices globally. Brent crude has slipped below $90 per barrel and currently stands at $88.
Huge buying in small shares
In today’s rally, not only the shares of big companies, but also small and medium shares have filled the pockets of investors. In Nifty 50, stocks like Larsen & Toubro, Shriram Finance as well as InterGlobe Aviation were the best performers. If we look at the overall picture of the market, there was a rise in 531 shares, while a decline was recorded in only 72 shares. If we look at the broader market, the Nifty Midcap index rose by 1.38 percent. Whereas Nifty Smallcap Index recorded a spectacular rise of 1.61 percent. Sector wise, shares of Nifty Realty, Auto and media companies performed better than the market. However, Nifty IT, Healthcare and Pharma sectors were seen facing pressure today.
Signs of return of strength in rupee
Amidst this spectacular rise in the stock market, some relief news also came from the currency market. The Indian Rupee has made a strong comeback today against the US Dollar. On Friday, the rupee opened with a strong gain of 37 paise at 95.38. In the previous trading session it had closed at 95.75. The strengthening of rupee is a big relief for importers.
condition of asian markets
While there is an atmosphere of celebration in the domestic market, mixed signals were seen from the Asian markets. In the morning trade, Gift Nifty was showing a decline of 173 points. On the other hand, Japan’s Nikkei index made a huge jump of 2000 points. The Korean market Kospi gained more than 8 percent, while the Hang Seng rose 467 points. There was a weakness of 682 points in Taiwan market. It is noteworthy that a day earlier on Thursday, huge fluctuations were seen in the Indian market, where the Sensex slipped 562 points from its day’s highest level and closed at 73,833.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsh advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
