The market has returned to its glory! Sensex jumps 500 points, Nifty crosses 23,900, stormy rise in IT shares Market sentiment revives! Sensex surges 500 points, Nifty crosses 23,900; IT shares witness a massive rally.

The Indian stock market has put brakes on its continuous falling trend for five consecutive days. A tremendous recovery has been seen in the domestic stock market on the first trading day of the week i.e. Monday. In early trading itself, the Bombay Stock Exchange index Sensex jumped by more than 500 points and crossed 76,570. At the same time, Nifty 50 of the National Stock Exchange is also trading above the important level of 23,900 with a gain of about 150 points. There is a buying environment all around the market and all the sectoral indices are trading in the green.

Why did the market suddenly take off?

The biggest reason behind this strong rise in the market is the reduction in tension in the Middle East (West Asia). Huge relief was seen in global markets after the news of reduction in military tension between America and Iran. This has had a direct impact on the prices of crude oil in the international market. The price of Brent Crude oil has fallen by about 4% to around $93 per barrel. For a big oil importing country like India, the cheapness of crude oil is a big booster dose, which has strengthened the rupee and raised hopes of reducing inflationary pressure in the country.

More than 2% blast in Nifty IT index

In today’s business, the biggest shine is being seen in the stocks of IT sector. Nifty IT Index is trading with a rise of more than 2%. Among IT companies, huge buying is being seen in the shares of big companies like Tech Mahindra, Infosys, TCS, HCL Tech and Wipro. The rise in the American Tech Market (Nasdaq) and the major changes being made by Indian IT companies in the field of Artificial Intelligence (AI) have greatly increased the confidence of investors.

There is a lottery in these shares, who is left behind?

In this bullish mood of the market, investors of many big companies have become silver today. The top gainers of Nifty currently include stocks like Infosys, Asian Paints, Bajaj Finance, Tata Consumer and InterGlobe Aviation (IndiGo). If we talk about falling stocks, then Bharti Airtel, ONGC and Apollo Hospitals seem to be under pressure. Midcap and smallcap indices are also seeing a rise of more than 1%, which makes it clear that retail investors are also buying heavily today.