Mumbai/New Delhi, Mar 5 (UNI) After trading weak for 19 sessions, the Indian stock market brought some smiles for investors as the BSE Sensex on Wednesday gained over 740 points to close at 73,730.23 mainly due to short covering and dip in US treasury yields.
The NSE (Nifty-50) faced its longest losing streak in three decades on Tuesday, because of global trade tensions from U.S. President Donald Trump’s tariff imposition on key trading partners. Today the National Stock Exchange (NSE) recovered over 254 points to close the day at 22,337.30.
The Foreign Institutional Investors (FIIs) were net sellers in cash segment to the tune of Rs 3,400 crore in yesterday’s trading while the Domestic Institutional Investors (DIIs) bought equities worth Rs 4,805 crore, according to data available.
The BSE Sensex opened in green at 73,005.37, rising 16 points. It rallied 944 points at 73,933.80, day’s high, before closing at 73,730.23, surging 740.30 points or little over 1 percent from its previous close. The Nifty registered days high at 22,394.90 and low at 22,067.80 and closed with gains of 254.65 points or 1.15 per cent up at 22,337.30.
The stock market experts, however, are cautious to say if this is the end of correction in the stock market. The stocks that lifted the market were Utilities by 4.40 percent, Power by 3.67 percent, BSE services by 3.64 percent.
The Mid cap rose 2.66 percent and the Small cap recovered by 2.80 percent. In the 30 scrip BSE Sensex, shares of 26 companies advanced and closed in green over their previous closing price, while shares of 4 companies declined.
The gainers were Adani Ports by 4.97 percent to Rs 1111.95, Tata Steel by 4.63 percent to Rs 145.75, Powergrid by 4.31 percent to Rs 265 and M& M by 4.09 percent to Rs 2721.
The losers included Bajaj Finance by 3.49 percent to Rs 8288.95, IndusInd Bank by 1.60 percent to Rs 972.10 and HDFC Bank by 1.07 percent to Rs 1692.80.
Asian Market was up as Hang Seng rose 2.77 percent, Taiwan Weighted by 1.20 percent, Set Composite by 2.43 percent.
