Stock Market Investors' Diwali has come a month earlier. This is because in 3 days, investors investing in the stock market have earned 8.30 lakh crores. Let us tell you that after the US central bank Federal Reserve cut the policy interest rate by 0.50 percent, the local stock market has been touching new heights for three consecutive days. During these three days, investors' wealth has increased by Rs 8.30 lakh crore. On the other hand, if we look at the data of investors' earnings so far this year, Nifty has given a return of about 18% and Sensex has given a return of 16.75%.
Bumper rise in Indian market on the third day
The 30-share BSE Sensex closed at an all-time high of 84,928.61 points, jumping 384.30 points on Monday for the third consecutive trading day. During the day's trading, it had risen 436.22 points to a new all-time high of 84,980.53 points. In three days, the Sensex has jumped 1,980.38 points or 2.38 percent. Due to this, the market capitalization of BSE listed companies has increased by Rs 8,30,975.85 crore to Rs 4,76,03,923.17 crore (5,700 billion dollars) in three days. The BSE Midcap and Smallcap index registered a gain of 0.73-0.73 percent. A total of 2,382 shares rose on the BSE, 1,731 fell and the price of 120 shares remained unchanged.
Why is the market continuing to rise?
Vinod Nair, Head of Research, Geojit Financial Services, said, “The enthusiasm remains due to the 0.50 percent cut in the policy rate by the Federal Reserve. Due to this, the domestic market has reached a new peak. Given the softening of the cost of raw materials and the interest rate cuts by other central banks of the world, it is expected that the Reserve Bank of India may change its stance. This will make the situation favorable at the valuation level. He said, “Although the country's PMI (Purchasing Managers Index) data has softened, investors hope that the capital inflow from foreign institutional investors will stabilize the sentiment. Among the 30 companies of the Sensex, Mahindra & Mahindra was the highest gainer with a gain of 3.29 percent. Apart from this, shares of State Bank of India, Bharti Airtel, Hindustan Unilever, Kotak Mahindra Bank, UltraTech Cement, Adani Ports and Tata Steel also remained in the lead.
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