IT stocks rise, market closes with gains
The stock market ended with a rise on Wednesday. The BSE Sensex closed at 85,186.47 points, while the NSE rose to 26,052.65 points. Among the Sensex companies, HCL Tech, Infosys, Tata Consultancy Services, Hindustan Unilever, Sun Pharma, and Titan were the major gainers.
The BSE Sensex rose 513 points today. The 30-share BSE Sensex closed with a gain of 513.45 points, or 0.61 percent. In terms of numbers, it closed at 85,186.47. It had risen by 563.75 points during the day.
Similarly, the NSE 50 also reached 26,000 points. IT stocks saw gains today. News that the trade deal between India and the US could be back on track led to increased buying in IT stocks. Continued buying by domestic institutional investors also boosted the market sentiment.
The 50-share NSE Nifty rose 142.60 points, or 0.55 percent, to 26,052.65. Among the losers were several major companies, such as Tata Motors Passenger Vehicles, Maruti, Adani Ports, and Bajaj Finance.
During the day’s trading, Commerce Minister Piyush Goyal issued a statement, saying that everyone will hear good news about the proposed trade agreement between India and the US only if it is beneficial for both countries. He added that the agreement will be fair and balanced.
In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, and Hong Kong’s Hang Seng closed with losses. In contrast, Shanghai’s SSE Composite closed with gains.
The US market closed lower on Tuesday, but trading there declined after noon. Foreign exchange investors sold shares worth ₹728.82 crore on Tuesday, while foreign exchange investors bought shares worth ₹6156.83 crore. Crude oil prices were at $64.64 per barrel.
