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Mumbai : The Indian stock market saw a strong boom on Wednesday. Both the indices of the stock market closed with the Sensex of the Bombay Stock Exchange (BSE) and the Nifty of the National Stock Exchange (NSE). At the end of the trading session, the BSE’s major sensitive index Sensex climbed 235.05 points to close at 60,392.77. At the same time, NSE’s Nifty closed at 17,812.40 points with a gain of 90.10 points. Meanwhile, the rupee gained 3 paise to close at 82.09 (provisional) per dollar at the interbank foreign exchange market.
Sensex rises 235 points, Nifty near 18 thousand
The rally in the local stock markets continued for the eighth consecutive day on Wednesday and the BSE Sensex gained 235 points. Buying in information technology, health and auto stocks strengthened the market. According to traders, strengthening of the rupee against the dollar and a good opening in the European markets also boosted market sentiment. The 30-share BSE Sensex closed at 60,392.77 with a gain of 235.05 points, or 0.39 per cent. At one time it had jumped up to 279.92 points during trading. The National Stock Exchange’s Nifty also closed at 17,812.40 points with a gain of 90.10 points, or 0.51 per cent.
These companies were profitable
Infosys, Tata Motors, HDFC Bank, Asian Paints, Tech Mahindra, HDFC, Tata Consultancy Services, Sun Pharma and ICICI Bank were major gainers in Sensex companies. On the other hand, PowerGrid, NTPC, Nestle India, UltraTech Cement, State Bank of India and ITC were among the losers.
What do experts say
Vinod Nair, head of research at Geojit Financial Services, said investors turned cautious ahead of the economic data and fourth quarter results of companies. There is hope in the market from the IT sector. Investors are waiting for the results of major companies of the sector. Apart from this, the industrial production data for February and the inflation data for March will be released after the market closes. All these will have an impact on the market.
Asian markets fall
In other Asian markets, Kospi of South Korea, Nikkei of Japan and Shanghai Composite of China were in profit, while Hangseng of Hong Kong remained in loss. In the major markets of Europe, there was a fast trend in the afternoon trade. The US market closed with a decline on Tuesday. Meanwhile, global oil benchmark Brent crude rose 0.35 per cent to $85.91 per barrel. According to stock market data, foreign portfolio investors bought shares worth Rs 342.84 crore on Tuesday.
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