look news india
Stock Market Today: The Indian stock market has made a comeback after the sluggishness of the last two trading sessions. Even today the market had a flat start. But later Sensex and Nifty rose due to increased buying in IT-technology stocks. At 11.05 am, Sensex was trading 437 points higher at 79923.92 and Nifty was trading 132 points higher at 24380.20. 313 shares hit upper circuit and 199 shares reached new high of the year. On the other hand, 230 stocks recorded lower circuit and 45 stocks recorded lower circuit at the end of the year.
smallcap-midcap gap
The clouds of recession on the stock market have not cleared yet. Smallcap and midcap indices were trading in the red zone. Apart from this, due to increased profit booking, energy, healthcare, metal, oil and gas shares were also trading with a decline.
Strong rise in IT technology shares
With the victory of Donald Trump in America, IT and technology stocks have increased and the dollar index has recorded a spectacular rise. The BSE IT index is trading at 2858.66, close to its all-time high of 2965.63. TCS, Infosys, HCL Tech, Tech Mahindra were the top Sensex pack gainers, with their shares trading over 1.50 per cent higher. PowerGrid rose 4.08 percent.
The market fell due to disappointing results
Global challenges and disappointing earnings have increased the recession in the stock market. FIIs are also continuously reporting selling. Shares of Asian Paints fell 9 per cent today after reporting weaker than expected results. A report has revealed that more than 50 percent of the companies listed on Nifty have reported weaker and lower profits than expected. Today, the reason for the rise in the stock market is China's weak economic data. Despite China announcing an economic package for GDP recovery, growth has remained weak.