Business

The surge in metal and real estate stocks will raise the Sensex by 832 points.Nifty calms down over 17,900

New Delhi: Monday’s stock index rose by more than 800 points in benchmark BSE sense, driven by rising real estate, metals and IT stocks, and fell for the third straight day.
The 30 shares of the BSE Sensex closed at 60,138, up 832 points (1.4%). Meanwhile, the broader NSE Nifty was settled at 258 points, or 1.46 percent higher at 17,930.
IndusInd Bank was the top gain in Sensepack, up 7.45%, followed by Bharti Airtel, HCL Tech, Tata Steel and Tech Mahindra.
Only Bajaj Finserv, M & M, Nestle India and Reliance fell to 1.74%.
On the NSE platform, all sub-indexes ended in green, with Nifty Realty, Metal, IT, and Bank up 4.03%.
The Metals Index rose 3.06% as the Steel Authority of India (SAIL) surged 12% after steelmakers recorded a surge of nearly 11 times in quarterly profits.
Both domestic indices have risen by more than 30% this year, hitting record highs last month. This is underpinned by a decline in Covid-19 cases, ample liquidity, economic resumption, and expectations for a strong festive season.
However, it has lost more than 4% from its October highs due to valuations by foreign institutional investors and concerns about mass sales. Nifty and Sense each fell 3.3% in the last three sessions.
Gaurafgarg, head of research at Capitalvia Global Research, told the news agency, “From a market perspective, what we’ve seen in the last three to four days has been a sharp fix. This is one-sided. It is generally considered good if there is a backlash. ” Reuters.
Investors have returned to buy mode, supported by good performance in the September quarter, Garg added.
Meanwhile, foreign institutional investors (FII) were net selling in the capital markets as they offloaded stocks worth 5,142.63 rupees on Friday, according to exchange data.
(There is input from the agency)



The surge in metal and real estate stocks will raise the Sensex by 832 points.Nifty calms down over 17,900

Source link The surge in metal and real estate stocks will raise the Sensex by 832 points.Nifty calms down over 17,900

Related Articles

Back to top button