look news india
Stock Market Today: Due to strong global factors, the stock market is in a bullish trend today. In the morning session, the Sensex jumped 882.34 points to reach 79988.22. Nifty also managed to cross the important level of 24400. Investors' capital increased by Rs. 2 lakh crore.
With US inflation at a 3-year low, the Fed Reserve may cut interest rates from next September. Which has received support from the equity market. American, European and Asian markets have recorded improvement. Sensex today reached close to 80000 after opening at 79000. At 10.45 am it was trading at 79469, up 364.45 points. Nifty is trading at 24256.55, up 112.80 points.
2229 shares in favor of the amendment
Out of 3769 stocks traded on BSE, 2229 stocks were bullish and 1395 stocks were bearish. At the time of writing, 150 stocks had hit year's high and 35 stocks had hit year's low. 228 stocks hit upper circuit and 218 stocks hit lower circuit. Buying increased in all stocks except power stocks.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said that the global sales volume has increased since August 5 amid the fear of recession in the US. However, the inflation data released by the US has given relief from the clouds of recession. The labor market is also moving towards improvement. Therefore, there is hope that foreign investment will increase in the hope that the Fed will start cutting interest rates.
