The stock market rained money, these 5 big reasons!
For the past few days, there was a decline in the indian stock market. But yesterday, i.e. Monday, was a great day for investors. The BSE Sensex opened with a stormy rise at 80,193.47 points. During trading, it climbed more than 1300 points to reach the level of 80,473.08. However, by the time the market closed, the Sensex closed at the level of 80,109.85 with a jump of 992.74 points. Similarly, the National Stock Exchange's Nifty-50 also closed at the level of 24,221.90 with a jump of 314.65 points.
Top Gainers and Losers
Talking about top gainers and losers, out of 50 companies of Nifty, 43 stocks saw a rise. Talking about the top gainers of Sensex, it included LT, SBIN, adani Port, hdfc bank and ICICI Bank. Talking about the top losers, HCL Tech, Maruti, Infosys, Asian Paint and Tech mahindra were in this list. Along with this, if we talk about the market cap of BSE, it was 439.58 lakh crores.
5 reasons for the rise in the market
There were some big reasons behind the rise in the stock market on Monday. In this, the victory of the Bharatiya Janata Party-led alliance in the maharashtra Assembly elections, positive signals from the global markets, buying in shares like reliance, hdfc bank and the stability in the market due to the end of quarterly results have also brought back the shine of the market.
In fact, mumbai in maharashtra is called the economic capital of the country, so any incident that happens there directly affects the stock market. BJP's victory in maharashtra has increased the confidence of investors. The effect of this confidence was also seen on the market. Apart from this, the fall in the shares of reliance and hdfc banks due to correction gave investors a chance to buy them. Apart from this, most of the Asian markets witnessed a rise today. Japan's Nikkei index saw a rise of 1.30 percent and South Korea's Kospi index saw a rise of 1.32 percent.