Investors experienced back-to-back gains today as the Sensex and Nifty continued their uptrend, resulting in gains of over ₹4 lakh crore in a single day. Stock market is favorable for investors, which can increase earnings.
In today’s stock market update, Sensex and Nifty 50, India’s leading stock market indices, rose for the second day in a row. Analysts point to favorable worldwide trade trends and reduced concerns regarding tensions in West Asia as underlying factors for this positive momentum.
No further escalation of tensions between Israel and Iran has provided comfort to the market, and investors’ risk appetite appears to have been reignited given the bright prospects of the Indian market.
A possible escalation of conflict between Israel and Iran seems an unlikely outcome, at least in the short term. VK Vijayakumar, chief investment strategist at Geojit Financial Services, noted that Israel has never acknowledged the attack in Iran and that Iran was unaware of the incident.
Sensex opened at 73,666.51 against its previous close of 73,088.33 and touched its intraday high and low of 73,767.80 and 73,227.32 respectively. The index closed 560 points, or 0.77 per cent, higher at 73,648.62.
Opening at 22,336.90, the Nifty 50 moved as high as 22,375.65 before falling to 22,198.15 during the day. However, the index ended on a more positive note, settling at 22,336.40; There was an increase of 0.86%, leading to an increase of 189 points from the previous close at 22,147.
Mid and smallcap indices outperformed the benchmarks. The BSE Midcap index rose 0.93 per cent while the Smallcap index jumped 1.26 per cent.
In one session, the market capitalization of companies listed on the BSE increased from nearly ₹393.5 lakh crore to nearly ₹398 lakh crore. This resulted in a profit of approximately ₹4.5 lakh crore to the investors.
Learn More: Stock Market Today : Sensex Nifty
