look news india
Stock Market Closing Bell: Sensex and Nifty managed to close at historic highs due to attractive buying in metal, auto, realty, banking stocks. Sensex today rose 1509.66 points intraday to an all-time high of 84694.46 and finally closed 1359.51 points higher at 84544.31. Nifty also rose 375.15 points to close at an all-time high of 25790.95. Intraday it reached a record high of 25849.25.
Out of the top 13 sectoral indices in the stock market, 12 closed in the green zone. Nifty FMCG, Auto, Realty, Metal index rose by 1-2 percent. Nifty Bank index closed with gains for the seventh consecutive trading session. Shares of ICICI Bank, HDFC Bank and Kotak Mahindra Bank rose.
Earnings for investors
Amid the global boom in the stock market, the market capitalization of BSE today rose to a record high of Rs. 471.84 lakh crore. Investors' capital has increased by 6.16 lakh crore today. In the Investable Market Index, the Indian stock market has surpassed China and reached the sixth position. The effect of which has also been seen on the stock market. On the other hand, foreign investment is more likely to increase due to the reduction of interest rates by the Fed. Abhishek Banerjee, Founder and CEO of Lotusdew Wealth and Investment Advisors, said that the Nifty Investable Market Index has surpassed China and reached the sixth position in MSCI EM. Which shows India as a safe country for investment even in the midst of war.
Metal stocks rise
Buying in metal indices increased today after profit booking in the last three trading sessions. The index rose 1.7 percent with attractive gains in stocks including JSW Steel, Tata Steel, Hindalco. The rise in metal stocks is due to the increase in ratings by rating agencies Morgan Stanley and Macquarie. On the other hand, defense stocks also rose up to 10 percent today.