look news india
The Indian stock market Sensex rose more than 1300 points on the last day of trading due to buying in IT and metal stocks. As investors look beyond the increase in capital gains tax in the budget. The total market cap of BSE-listed companies increased by Rs 7.10 lakh crore during the day.
Around 3 pm, the Nifty 50 was trading at a record high. It rose 1.76 per cent to 24,834 at the time of market closing at 3.30 pm. The index had earlier reached an all-time high of 24,854 on July 19. Meanwhile, the Sensex rose 1.62 per cent to 81,332.
Due to this, there was a boom in the IT sector
IT stocks led by Mphasis, Infosys rose seven per cent. After data on Thursday showed the US economy grew more than expected in the second quarter. IT companies themselves earn a large chunk of revenue from the US.
because metal is also
Meanwhile, Nifty Metal rose over three per cent, led by Adani Enterprises, Vedanta and Tata Steel. In percentage terms, Nifty Metal was the top gainer in the index. Among Sensex stocks, Infosys, Bharti Airtel, Reliance Industries and TCS contributed nearly 500 points to the index's rally. Kotak Bank, L&T, ITC, SBI, HCL Tech and Tata Steel stocks also made significant contributions.
Experts believe that the special thing about the ongoing bull market in the country is that it has the ability to mitigate these concerns. The market has ignored widespread concerns about elections, budget and the fall in the US market. This fast selling strategy has performed well and will continue to do so.