Indian market showed strength in today’s trade with global support. Shares of majors like HDFC Bank and Reliance Industries led the market, while a slight strengthening of the rupee and rise in Brent crude also encouraged investors.
The Indian stock market witnessed gains for the third consecutive day on Tuesday. Domestic benchmark indices Sensex and Nifty rose due to strength in major stocks like HDFC Bank, Reliance Industries. Apart from this, positive trends were also seen in global markets, which gave further boost to the Indian market.
Sensex and Nifty rise
BSE benchmark Sensex closed 597.67 points or 0.74 per cent higher at 80,845.75. During the day, Sensex touched a high of 80,949.10 with a rise of 701.02 points. At the same time, NSE Nifty closed at 24,457.15, up 181.10 points or 0.75 percent.
Profit in Major Stocks
Among the 30 major Sensex stocks, Adani Ports registered the highest increase of 5.93 percent. Apart from this, gains were also seen in leading stocks like Axis Bank, NTPC, Larsen & Toubro, State Bank of India, Tata Motors, UltraTech Cement, HDFC Bank and Reliance Industries. However, Bharti Airtel, ITC, Sun Pharma, Asian Paints and Kotak Mahindra Bank declined.
Positive impact of global markets
In Asian markets, gains were seen in Seoul, Tokyo, Shanghai and Hong Kong. European markets were also trading in the green. Apart from this, American markets also closed with positive trends on Monday, which were working to support the Indian market.
Market brightens due to strengthening of rupee
Rupee has increased by 3 paise to 84.69 against the US dollar. Global benchmark Brent crude rose 1.13 percent to $72.64 a barrel. Due to both of these, the Indian stock market got a positive trend and the activities of investors increased.
