Among the Nifty firms, notable gainers included ONGC, Apollo Hospital, Cipla, ITC, and Dr. Reddy, while BPCL, HDFC Life, Bajaj Auto, Infosys, and Coal India were the prominent losers.
The Indian stock market started with a gap-up, suggesting an upward trend. Following a day of closure for Ram Navami, the market swiftly opened with gains.
The sudden downturn in equity markets has raised concerns among investors, who are closely monitoring the situation for further developments and their potential impact on market stability.
The market decline comes amidst lingering uncertainties surrounding global economic conditions, geopolitical tensions, and fluctuations in crude oil prices, contributing to investor nervousness.
The Eid-uL-Fitr and Ram Navami holidays will be observed on April 11 and 17, 2024. Meanwhile, the Indian stock market witnessed a positive start on Wednesday, with both the benchmark indices, Sensex and Nifty, making significant gains in early trade.
Investors are closely monitoring the market dynamics and key developments to assess the trajectory of the stock market throughout the trading day. The positive start augurs well for market participants, with hopes of continued bullish momentum in the trading sessions ahead.
Stock market: Despite external factors and global market conditions, Indian equities demonstrate stability and resilience, providing investors with confidence in the market's long-term prospects.
With discussions surrounding the stock market, the term "stress test" has gained attention, especially amidst the recent decline in mid- and small-cap shares. Stress tests evaluate mutual funds' ability to liquidate portfolios swiftly during extreme scenarios.
Several factors likely contributed to today's market rebound, including positive global cues, improved investor sentiment, and strong corporate earnings reports. Additionally, easing concerns over inflation and interest rates may have also played a role in boosting market confidence.
The sudden downturn in the market sent shockwaves throughout the investor community, as concerns over various economic factors, including inflation and geopolitical tensions, fueled uncertainty and contributed to the sell-off.
The 30-share BSE Sensex climbed 384.79 points to 74,052.75 in early trade. Meanwhile, the Nifty advanced 111.05 points to 22,446.75.
Shares in Japan have tracked gains in other markets driven by expectations for strong demand for technology associated with artificial intelligence.
A circulating video purportedly showing Mukesh Ambani endorsing a stock market forum has been debunked as a deepfake by India TV Fact Check. Created using artificial voice cloning, the clip falsely portrays Ambani offering investment advice.
The month of March will bring about various key financial changes, impacting the lives of the people. From Paytm Payments Bank to FASTag deactivation, there are several services which will undergo changes in March 2024.
Indian stock markets are on a strong upward trajectory, with the Nifty hitting a record high of 22,297 points and the Sensex crossing 73,200 points. Various sectors, including auto, IT, banks, pharmaceuticals, and metals, are witnessing positive trends.
The Kalahridhaan Trendz IPO is valued at Rs 22.49 crore and has a fresh issue of 4,998,000 equity shares with a face value of Rs 10 each.
The IPO is open for subscription from February 22-26, while the allocation to anchor investors will take place on February 21.
The Sensex and Nifty edged up nearly 3 per cent to 72,627 and 22,103, respectively.
The Sensex rose by 306.34 points, or 0.43 per cent to reach 72,356.72 points, while the Nifty climbed 81.05 points
The 30-share BSE Sensex climbed 227.55 points or 0.32 per cent to close at 72,050.38 points. The broader NSE Nifty also gained 70.70 points or 0.32 per cent to end at 21,910.75 points.
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