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HomeBusinessSensex sprung 508 points; Bank and Reliance shares shine

Sensex sprung 508 points; Bank and Reliance shares shine


The BSE Sensex, based on thirty shares, started the gains from early trading and finally ended with a gain of 508.06 points or 1.06 per cent to close at 48,386.51. Similarly, the National Stock Exchange’s Nifty jumped 143.65 points, or one percent, to close at 14,485.

Mumbai. The week started on a high in the stock markets and BSE Sensex On Monday, there was a jump of 508 points. Despite rising cases of Kovid-19 transition, investors bought stocks related to banks, consumption and energy companies, which strengthened the market. According to traders, the increase in the rupee’s exchange rate against the US dollar by 28 paise also strengthened. The BSE Sensex, based on thirty shares, started the gains from early trading and finally ended with a gain of 508.06 points or 1.06 per cent to close at 48,386.51. Similarly, the National Stock Exchange’s Nifty jumped 143.65 points, or one percent, to close at 14,485. Axis Bank was the biggest gainer among the Sensex stocks.

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It gained 4.40 percent. Besides, ICICI Bank gained 3.63 percent. The stock gained momentum as the bank reported a four-fold gain in the March quarter. Apart from this, UltraTech Cement, HUL, State Bank of India, Power Grid, Bajaj Auto and Reliance Industries were also up by 2.87 percent. On the other hand, other stocks including HCL Tech, HDFC Bank, Maruti, Sun Pharma, TCS, NTPC and ITC declined. It fell by up to 2.87 percent. Vinod Modi, strategic head of Reliance Securities, said, “The market did not favor the uptick in Kovid-19 cases and a strong uptick in the market, mainly among financial companies.” The index remained in profit. The market was strengthened by the March quarter results of companies led by ICICI Bank.

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Vinod Nair, head of research at Geojit Financial Services, said the market may remain volatile in the coming days, given the continued pick-up in Kovid-affairs and completion of deals in the futures and options segment in April this week. The upcoming meetings of the Federal Open Market Committee (FOMC) are important activities of this week. Meanwhile, according to the data released by the Ministry of Health on Monday, the total number of infected people has increased to 1,73,13,163 after the number of new cases of Kovid-19 in the country in the last 24 hours has increased to 1,73,13,163 while the number of under-treated patients is 28 lakh Has been exceeded. In other Asian markets, Shanghai and Hong Kong were at a disadvantage, while Tokyo and Seoul were at a profit. In the major markets of Europe, there was a loss in the mid-day business. Meanwhile, the international oil standard Brent crude dropped 1.74 percent to $ 64.28 a barrel. The rupee strengthened 28 paise to close at 74.73 against the US dollar.

Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.

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