- Sensex is trading 318.83 points higher at 59,279.43 points
- Nifty is trading at 17,575.75 points with a gain of 88.80 points
- Banking stocks included in Sensex are seeing good growth
Stock Market On Wednesday, for the fourth consecutive day, we are seeing an increase. The BSE Sensex jumped over 318 points. A positive trend in the global markets and increased buying by domestic investors is giving good momentum to the market. Based on thirty shares, the BSE Sensex is trading 318.83 points higher at 59,279.43 points. Similarly, the Nifty of the National Stock Exchange is trading at 17,575.75 with a gain of 88.80 points. Banking stocks included in the Sensex are seeing good growth. HDFC, HDFCBANK, POWERGRID, AXISBANK, ULTRACEMCO, TITAN, RELIANCE, MARUTI and KOTAKBANK are up up to two per cent in the shares.
Fast trend in the global market too
After a long decline, the global market has also recovered. Dow Jones Futures saw a jump of 337.98 points. Although SGX Nifty is flat near 17500. At the same time, Asian markets are also seeing a boom. Due to this, there is a continuous boom in the Indian market. The market can see good growth till Diwali. Nifty may touch 18000 level.
positive sentiment at home
Vinod Nair, Head of Research, Geojit Financial Services said that the Indian market has bounced back on favorable global and domestic indicators. There is a positive sentiment at the domestic level on softening crude oil prices and prospects of better Q2 results for companies. “The Reserve Bank has also expressed confidence that the gross inflation has reached a high level in September and will come down in the times to come,” he said. This sent a positive signal in the financial market and bank shares rose. Ajit Mishra, Vice President (Research), Religare Broking Ltd. said that the recent rally in the market is mainly due to the positive trend in the global markets. The quarterly results of the companies have been mixed so far. “We believe that rotational participation of key sectors will support the growth,” he said.