Stock Market Closes Strong for Third Consecutive Day, Sensex Surges by 1,000 Points

•  Market strength leads to investors earning ?3.44 lakh crore in a single day

(Fast Mail):-- Due to easing geopolitical tensions and strong global cues, the domestic stock market managed to close with gains for the third consecutive day on Wednesday. The market opened strongly, but in the initial minutes, there was slight selling pressure. However, buyers soon took charge. After 10 AM, sellers attempted to create pressure again, but post 1 PM, widespread buying began. Supported by this buying, the stock market surged by approximately 1.25%. After a full day of trading, both the Sensex and Nifty closed with a 1.21% gain.

Throughout the day, there was significant buying in energy, banking, and FMCG sector stocks. Additionally, metal, oil and gas, public sector enterprises, automobile, capital goods, consumer durables, healthcare, and tech indices also closed with gains. However, the IT sector faced selling pressure. The broader market saw consistent buying, leading to the BSE Midcap Index closing 0.56% stronger, while the Smallcap Index ended the day with a 0.12% gain.

The market’s strength today resulted in a nearly ?3.5 lakh crore increase in investors’ wealth. The market capitalization of companies listed on the BSE rose to ?457.45 lakh crore (provisional) after today’s trading, up from ?454.01 lakh crore on the previous trading day, Wednesday. This translates to a profit of approximately ?3.44 lakh crore for investors.

During the day’s trading, 4,153 stocks on the BSE saw active trading. Of these, 2,097 closed with gains, 1,900 saw declines, and 156 closed unchanged. On the NSE, 2,600 stocks were actively traded, with 1,337 closing in the green and 1,263 in the red. Similarly, among the 30 Sensex stocks, 21 closed with gains, while 9 ended lower. Of the 50 Nifty stocks, 42 closed in the green, and 8 in the red.

Similarly, the NSE Nifty opened 24.20 points higher at 25,268.95. Early selling pressure caused it to dip to 25,259.90, but buyers then dominated, pushing the index up by 173 points to 25,417.75 by 10 AM. After a brief dip due to profit-booking, aggressive buying resumed post 1 PM, driving the Nifty to 25,565.30, a gain of 320.55 points. However, late selling due to trade settlements caused it to slip 16.30 points from its peak, closing 304.25 points higher at 25,549.

After the day’s trading, top performers among major stocks included Shriram Finance (4.16%), Jio Financial (3.03%), Hindalco Industries (2.67%), Tata Steel (2.65%), and Adani Ports (2.60%). On the other hand, Dr. Reddy’s Laboratories (-1.50%), Tech Mahindra (-0.87%), Hero MotoCorp (-0.53%), Maruti Suzuki (-0.41%), and State Bank of India (-0.37%) were among the top losers.