Mumbai
The Indian stock market on Thursday saw a fierce boom on the fourth consecutive trading day. Today the Sensex rose 899 points to 76,348, while the Nifty closed at 23,190 with a gain of 283 points.
3 major reasons for stock market boom
Soft trend of American Federal Reserve
The Federal Reserve has indicated the interest rate cuts this year despite the possibility of inflation and potential recession. Fed Chairman Jerome Powell said that increasing tariffs will affect inflation, but it will not last long. This reduced the market nervousness and strengthened the notion of investors.
Domestic demand and select sectors return
Experts say that domestic consumer stocks have seen strong purchases. Stocks like Kotak Mahindra Bank, Bajaj Finance, Indigo and Muthoot Finance have touched 52-Veik high. Apart from this, investors’ interest in defense and shipping sectors has also increased.
Positive signs from American markets
The US stock markets closed firmly on Wednesday. Dow Jones climbed 383 points (0.92%) to close at 41,964.63, S&P 500 gained 1.08%, and Nasdaq jumped 1.41% to close at 17,750.79. This also increased the trust of investors in the Indian market.
Yesterday was in the market
Earlier, on yesterday i.e. March 19, the market was seen in a boom. The Sensex closed at 75,449 levels up 147 points. The Nifty rose by 73 points, it closed at 22,907 levels.