Sensex rises 3000 points: The stock market today recorded a strong rise in the stock market with domestic and global positive signals. The Sensex has recorded a record bounce of 3000 points, while the Nifty has recorded a record jump of 900 points. Due to improving investors’ perception, capital flow of Rs 1,000 crore occurred. It has increased by 16.11 lakh crores.
Second biggest bounce in four years
The stress between India and Pakistan has improved the purchase spirit of domestic investors. On the other hand, foreign investors have also recorded purchases due to the successful trade agreement between the US and China. As a result, Sensex and Nifty increased by up to 4 percent. Which is the second biggest bounce in the last four years. Earlier on 1 February 2021, intradays in both indices rose by more than 4.7 per cent. After opening with a gain of 1300 points, the Sensex rose 3041.5 points to the highest level of 82495.97. Which finally closed at 82429.90 at 3.33 pm 2975.43 points. The Nifty closed at 24924.70 above 916.70 points.
Shopping round in IT shares
Today there was heavy purchases in IT shares in the stock market. For the past few years, IT shares have increased at a lower level purchases, which were in improvement mode due to tariff war and dollar fall. The reason behind this purchase is tariff relief. The US and China have announced a reduction of up to 115 percent of tariffs on each other. This has also increased the possibility of other countries to get tariff relief. The IT index rose by 6.75 percent due to strong trading in shares of Infosys, TCS, HCL Tech, Tech Mahindra. L&T closed 6.50 percent, Wipro 6.41 percent, Infosys 7.91 percent, TCS 5.17 percent.
Composite stock market boom
Banking, IT and power stocks have had huge purchases at a lower level. Out of a total of 4248 shares trading on BSE, 3540 shares closed in green mark. 568 shares fell. Today, 506 shares have an upper circuit. While 110 shares reached the new highest level of the year. 48 stocks reached a minimum level of 52 weeks and 185 stocks reached the lowest level.
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