Today’s stock market: The Indian stock market opened with a significant upside gap on Tuesday,continuing the uptrend for the second consecutive session.
Of the frontline indices, the Nifty 50 opened higher at 23,368,which ended up being its intraday peak,and the benchmark index was unable to hold onto higher levels,but as it rose to Tuesday’s peak,the Nifty recorded a 969-point rally in two consecutive sessions. The BSE Sensex opened higher at 76,852 today and reached an intraday high of 76,907; during the ascent to this intraday peak,the 30-stock index recorded an intraday gain of 1,750 points and a rise of more than 3,000 points in two consecutive sessions.
The Bank Nifty index saw an intraday rise of almost 1,400 points today, starting the day higher at 52,299 and reaching an intraday high of 52,400. The Bank Nifty index gained around 2,150 points in two consecutive sessions while reaching this intraday peak.
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Since purchases were made in the general market,this Dalal Street rally is participatory. During Tuesday morning trading,the BSE Mid-cap index jumped by around 1.65%, while the BSE Small-cap index is up about 2%.
523 equities listed on the BSE have locked in circuits by 1:00 PM on Tuesday,with 364 of them hitting the upper circuit and 1159 the lower circuit. A 52-week high was reached by 74 BSE-listed stocks, while a 52-week low was reached by 38 BSE-listed stocks.
Why is the stock market in India growing right now?
VK Vijayakumar,Chief Investment Strategist at Geojit Investments,discussed the prognosis for the Indian frontline indices, saying,”The S&P 500 is up 9% from the April lows on the tariff pause.“We have some catching up to do because the Nifty is only up 3% from its April lows. This is catching up,and the market will remain robust for the day with some short-covering.
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