look news india
After the Federal Reserve cut the interest rate by 50 basis points in the US two days ago and signs of growth in global markets, the country's stock markets made new records on Friday. Sensex and Nifty made new all-time highs.
Due to the bullish environment in the market, there was buying all around, due to which the Sensex rose by 1,400 points and crossed the level of 84,500 for the first time and closed at 84,544.31. At the same time, the Nifty closed at the level of 25,790.95 with a gain of 375 points. After the boom gained momentum, investors' coffers were flooded on Friday and their wealth lost Rs. 6.36 lakh crore.
Thus, Friday proved to be a good Friday for them. The market witnessed a stormy rise of 3.5% in the realty sector, apart from this, buying in auto, metal and FMCG stocks created a storm. Out of 30 Sensex stocks, 26 rose while 4 fell. Out of 50 Nifty stocks, 44 rose and 6 fell.
Which sector saw a boom?: Realty sector witnessed a boom and realty shares rose by 3.05 percent. Auto sector rose by 1.88 percent and metal sector by 1.65 percent and financial sector by 1.58 percent, FMCG sector by 1.38 percent. However, public sector banks fell by 0.09 percent.
Reasons for the boom in the market
US Fed Reserve cuts interest rates by 50 basis points
The fall in points improved market sentiment.
Reserve Bank of India may also cut interest rates.
Fresh buying in midcap and smallcap stocks.
With increased liquidity in the global market, investment possibilities in the Indian market increased.
There is an all-round boom in the markets of all Asian countries.
US Dow and S&P 500 also reached record levels and its positive impact was also seen on the Indian markets on Friday.
More than 250 stocks hit one-year high on BSE
As the market boomed, more than 250 stocks on the BSE hit a one-year high. Shares of ICICI Bank, Bharti Airtel, Hindustan Uni Lever, Bajaj Finserv and JSW Steel hit new 52-week highs. Mahindra & Mahindra and Larsen & Toubro also saw a jump. On Friday, the market cap rose by Rs. 6.36 lakh crore. Investors' coffers were emptied. The market cap rose to Rs 4,71,84,122 crore. At one time, the Sensex rose by 1,500 points and the Nifty by more than 400 points.