Share Market gave a great welcome to the new financial year, Sensex again crossed 59

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  • BSE Sensex closed higher by more than 708 points
  • Nifty climbs 205 points to close at 17,670.45 points
  • Major markets in Europe witnessed a bullish trend

new Delhi. The start of the stock market on the first day of the new financial year was spectacular. The BSE Sensex jumped over 708 points and closed at 59,276.69, again crossing the 59,000 level. At one point during trading, it had risen by 828.11 points, or 1.41 percent, to 59,396.62. The Nifty also closed at 17,670.45, up 205.70 points, or 1.18 per cent.

Strong jump in the shares of these companies

Out of thirty Sensex stocks, NTPC, PowerGrid, IndusInd Bank, State Bank of India, HDFC, Mahindra & Mahindra, HDFC Bank, Bajaj Finance and Axis Bank were the major gainers. On the contrary, Tech Mahindra, Sun Pharma, Dr Reddy’s, Titan and Infosys were the losers.

Improvement in global situation returned momentum

Shrikant Chauhan, Head of Equity Research, Kotak Securities said, “The domestic stock market gave positive returns this week. Globally too, equity markets remained broadly strong amid progress in Russia-Ukraine talks. On the other hand, there was some improvement in commodity prices. In India, the market was broadly profitable. Most of the segment-wise indices remained in the positive zone,” he said, adding that crude oil prices have improved this week and it is positive for countries like India dependent on imports. In other Asian markets, South Korea’s Kospi and Japan’s Nikkei ended in losses, while China’s Shanghai Composite Index and Hong Kong’s Hang Seng were up. There was a sharp trend in the afternoon trading in the major markets of Europe.

Crude oil rises marginally

Meanwhile, international oil benchmark Brent crude was up 0.22 per cent at $104.94 per barrel. Foreign institutional investors were net buyers as per stock market data. He bought shares worth Rs 3,088.73 crore on Thursday.