Nifty 50, Sensex, and other indices opened on a positive note on Thursday and were up almost 1% by the end of the day. Sensex closed by gaining 540 points, or 0.75%, which puts it at 72641.19, and Nifty 50 closed at 22011.95 and gained 173 points, or 0.79%.
Only 10 stocks ended in red in the Nifty 50’s pack; NTPC, BPCL, and Power Grid were the top gainers today. Mid- and small-cap indices outperformed the benchmarks. The BSE midcap index jumped about 2.36 percent, while the smallcap index rose 2.01 percent.
5 reasons why the stock market was up today.
Experts say these 5 reasons are the main cause of today’s surge in the stock market
- The US Federal Reserves, which control interest rates, have hinted that they will cut rates three times this year, which is good news for investors because a lower interest rate will encourage borrowing and spending in the market. The US Federal Reserve left the interest rates untouched at 5.5% and said they would continue to be between 5.25% and 5.5%. This news has improved global market sentiments significantly.
- Other Asian stock markets, like Japan, Korea, etc., ended on a positive note today following the US Fed’s interest rate news. When big markets do well, smaller markets like India get a boost in confidence too.
- Almost all the sector indices saw buying today. Every different type of company, like a bank, metal, real estate, etc., saw people buying their stocks. This increases market confidence when investors put their money in different sectors.
- Indian institutional investors and big individual investors have been buying more stocks lately. This trend indicates that people within India have faith in their economy and companies, which can drive up stock prices.
- Price action traders and technical analysts observed patterns in the market today that indicated them to buy, and the market showed strong signs of an uptrend, which resulted in more people engaging in buying stocks.
What are your thoughts on where will market tomorrow? tell us in the comments…
