look news india
Ahmedabad: The huge fall in the stock market after the results of the Lok Sabha elections came contrary to the exit polls has been recovered within three days. Dismissing the reports of Narendra Modi forming the government once again with the support of NDA allies and the negative statements made against the market, the Sensex reached a high of 76,795 at the end of trading today and the Nifty closed down by 469 points. Today, on the strength of a fresh rally led by foreign investors. Due to the surge in the Sensex, the wealth of investors has increased by Rs. 7.6 lakh crore today. While in the last three days, a huge increase of Rs. 28.66 lakh crore has been seen.
After the announcement of election results, amid the uncertainty about the formation of the new government, the market was bullish today on the news of Narendra Modi forming the government once again after the NDA allies expressed confidence. Today, after the monetary policy review of the Reserve Bank, as expected, there was no change in the repo rate, which heated up the markets.
Following these reports, fresh buying by operators, funds and investors led by foreign investors today accelerated the recovery in the market. As a result, after touching a new all-time high of 76,795 intra-day, the Sensex closed at a new record high of 76,693, up 1,619 points at the end of the session.
On the other hand, NSE Nifty also moved sharply today but remained far from its previous highest level. It remained strong at 23,290 with a jump of 469 points at the end of trading.
Foreign investors today added a fresh Rs. 4391 crore worth of shares. On the other hand, local bodies today sold shares worth Rs. 1,290 crore. Today 3,952 shares were traded in favour of 2,890 shares, BSE Smallcap index gained 1,038 points and Midcap index gained 556 points.
On the back of a rally in the Sensex, investors' wealth today rose by Rs. 7.6 lakh crore at the end of trading to Rs. 423.49 lakh crore. In the last three days, the Sensex has registered a jump of more than 4,500 points. As a result, investors' wealth has increased by Rs. 1,000 crore in the last three days. An increase of Rs. 28.66 lakh crore has been registered.