Last Updated on 16/08/2024 by wccexam Desk
After good signs in the global market, there has been a huge rise in the Indian stock market. Nifty closed at 24,540 level with a gain of about 400 points, while Sensex closed at 80,436 level with a gain of 1330 points. At the same time, Nifty Bank has gained 788 points. Apart from this, from Nifty Midcap to IT sector, all closed in the green zone.
Out of the top 30 stocks of BSE Sensex, only Sun Pharma’s stock saw a slight decline. Whereas all the other 29 stocks closed with a huge gain. The biggest gain was in Tech Mahindra’s stock, which rose 4 percent to Rs 1584 today. After this, Mahindra & Mahindra, Tata Motors, UltraTech Cement and TCS’s shares saw a rise.
The stock market was witnessing a rise since morning. In the initial trade, the Sensex opened 600 points higher, while the Nifty opened 200 points higher. After this, the market gained further momentum and by the time the market closed, the Sensex rose 1300 points, while the Nifty jumped about 400 points.
- The stock market witnessed a great rally on Friday due to massive buying of IT stocks.
- At the same time, the Indian stock market remained green due to the rise in the global market after the US economic data. After the US economic data, the fears of recession in the world’s largest economy have reduced.
- Apart from this, the results of some companies have been quite excellent, which includes BPCL, COAL and ONGC.
- On the other hand, domestic investors have made huge purchases. Especially, maximum purchases have been made in the IT sector.
- Investors’ sentiment in the stock market remained high today due to strong signals from global markets. Dow Jones jumped 550 points yesterday.
These 10 shares became rockets
The most rapid rise was seen in the shares of the recently listed company OLA Electric, which hit an upper circuit of 20 percent today. In the long term, DLF shares rose 5 percent, Wipro shares rose 4.26 percent, Power Finance Corp 4 percent, Policy Bazaar shares rose 8 percent, Piramal Enterprises 7.36 percent, MPesa 7 percent, CDSL shares rose 9 percent, Zensar Technology 7.73 percent and Nippon Life India AMC 7.49 percent.
95 stocks at 52-week high
Out of the total 2,797 shares of NSE, 1,872 shares are witnessing a rise. Whereas 845 shares are trading on a decline. Apart from this, 80 shares remained unchanged. 95 shares were at a 52-week high, while 31 shares were trading at a 52-week low. 112 shares were on the upper circuit and 76 shares were on the lower circuit.
Source (PTI) (NDTV) (HINDUSTANTIMES)