look news india
Stock Market Boom: After the huge fall in the stock market on the day of the results of the Lok Sabha elections 2024, the market has recovered in just 3 days. The NDA government has been confirmed with the full support of Chandrababu Naidu and Nitish Kumar. On the other hand, the RBI has also indicated a strong increase in GDP growth and the stock market has seen a boom.
Sensex rose 1516.51 points, Nifty reached intraday high of 23250. With this, the stock market recorded a big fall on June 4, investors' capital has increased by Rs. 26.86 lakh crore in three consecutive days of rise. Today, for the second consecutive day, the auto index touched a new all-time high. Apart from this, consumer durables and healthcare indices also recorded the highest peak.
In the meeting of the Monetary Policy Committee of RBI today, the GDP growth estimate for 2024-25 was revised to 7.2 percent while keeping the interest rates unchanged. Due to which the market sentiment has become positive with the indication of the country's economic condition getting stronger, while on the other hand the exercise of forming the NDA government has also started.
stock market situation
At 1.27 pm, Nifty was trading at 23182.35 with a jump of 360.95 points and Sensex was trading at 1297 points. With this, the capital of investors has increased by Rs 5.74 lakh crore today.
Auto-healthcare stocks rise
The BSE Healthcare index today reached an all-time high of 36,217.46 due to strong gains in pharma stocks including Sun Pharma, Dr. Reddy's, Cipla, Suven. The impact of auto sales of almost top companies in May has been seen on auto stocks. The auto index is trading with a gain of 1.22 percent. Due to increased volume, stocks like Mahindra & Mahindra, Tata Motors, Madrasan Sumi etc. rose.
Notably, on June 4, investors lost over Rs 31 lakh crore in a single day with Sensex and Nifty witnessing a huge gap down. Sensex and Nifty have recovered from this fall but are still far off their all-time highs.
