Sensex closes 500 points higher
The stock market continued to rise sharply on Wednesday on the back of rising US stock markets and falling crude oil prices. The Sensex closed at 39,054 level with a gain of about 490 points. At the same time, the Nifty also crossed the 11,700 level and closed at 150 points higher. During the business, shares of Ultratech Cement rose 5%.
This morning the Sensex was trading 103 points higher at 38,668 level. At the same time, the Nifty was also trading 32 points higher at level of 11,607 at the same time.
Market sentiment remained positive due to strong signs and crude oil prices from US stock markets. American’s Wall Street closed the S & P 500 index and Nasdaq on Tuesday with record gain. At the same time, Shanghai and Tokyo stock markets in other Asian markets have been trending in the early trade.
Rupee jumped 23 paise to 69.85 against dollar in early trade on Wednesday. On Tuesday, the rupee strengthened by 5 paise to close at Rs 69.62 per dollar.
The elections were held in the third phase of Lok Sabha elections yesterday. On Tuesday, the country’s stock market closed in the red. The Sensex dropped 80 points to 38,564 and the Nifty fell 18 points to close at 11,575. Yesterday, the Nifty’s banking index dropped 0.70 percent. HDFC lost one per cent and SBI 1.4 per cent. In addition, shares of Yes Bank and IndusInd Bank fell by 2%.
