Amidst the clouds of uncertainty globally, a decision by US President Donald Trump on Thursday gave great relief to investors. After the withdrawal of the threat of imposing tariffs on European NATO countries and the announcement of the framework deal with NATO regarding Greenland, a positive atmosphere was created in the markets around the world, the direct impact of which was also seen on the Indian stock market.
As soon as the market opened in the morning, there was a strong rise in Sensex and Nifty. Bombay Stock Exchange’s Sensex was seen trading at the level of 82,541.02 with a gain of 631.39 points. At the same time, Nifty of National Stock Exchange reached the level of 25,314.70 with a rise of 157.20 points and stood firmly above the important level of 25,300.
stock market rally
Improvement in global signals is considered to be the major reason behind this market rally. Investors’ confidence in taking risks has increased due to the reduction in possible trade tensions between America and Europe. Asian markets also traded in the green, while American stock markets registered a strong rally last night. On Wall Street, the S&P 500 index posted its biggest one-day percentage gain in two months, further boosting investor confidence in emerging markets.
Which sectors rose?
On the domestic front, buying was seen in banking, IT and pharma stocks on sectoral basis. The stocks that kept a special eye on investors in today’s trading included stocks like InterGlobe Aviation (Indigo), Dr. Reddy’s Laboratories, Biocon, Hindustan Petroleum Corporation Limited (HPCL), CESC and Eternal. There was movement in these shares due to company-specific news and expectations of results.
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