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Mumbai32 minutes ago
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The stock market has a boom today on the second trading day of the week i.e. on Tuesday, April 29. The Sensex is trading crossing 80,500 by climbing 300 points. The Nifty also has a gain of 100 points, it is at 24,400.
The Sensex has a rise in 23 out of 30 shares. IndusInd Bank, Tata Motors, SBI, Axis Bank and Reliance stocks up by 2.3%. At the same time, there is a slight decline in the shares of Sunforma, Power Grid and Nestle.
37 out of 50 shares of Nifty are rose. The government bank’s index is the highest in the NSE sectoral indices 1.73%. In addition, oil and gas, auto, metal and media sectors are up to 1%.
Mixed business mixed in global market
- Nikkei of Japan is closed today. Yesterday it closed at 35,839 above 134.25 points (0.38%). Korea’s Kospi is trading at 2,568 with a gain of 19 points (0.74%).
- China’s Shanghai composite is trading at 3,287 with a slight decline. Hong Kong’s Hangseng index is trading at 22,060 by climbing 88 points (0.40%).
- On 28 April, the US Dow Jones climbed 114 points (0.28%) to close at 40,228. The Nasdaq Composite rose by 17 points (0.097%), while the S&P 500 index closed climbing 4 points (0.064%).
3 reasons for market boom:
- The 90-day temporary tariff relief of US President Donald Trump is expected to speed up bilateral trade agreement (BTA) between India and America.
- Unlike India, China has not been given a discount in tariff from the US. With this, Indian exporters can get compective advantage in short term.
- Foreign investors (FII) are shopping in the Indian market. FII has invested Rs 17,425 crore in the Indian stock markets in the last business week (21-25 April). Foreign investors bought shares worth Rs 2,474.10 crore on 28 April alone. Domestic investors also purchased Rs 2,817.64 crore.
Second day of Ather Energy IPO
The IPO of Electric Two-wheeler maker Ather Energy has been opened from tomorrow i.e. 28 April. Investors will be able to bid for this by 30 April. The issue price of this IPO has been fixed at ₹ 304- ₹ 321 per share. The company wants to raise ₹ 8,750 crore by selling 8.18 crore shares through this public issue.
Yesterday the stock market was up more than 1000 points
The stock market rose on Monday, April 28. The Sensex closed at 80,218 with a gain of 1,005 points (1.27%). This is its 4 -month high level.
The Nifty also rose by 289 points (1.20%), closed at 24,328. Today, banking, metal and pharma shares increased. At the same time, there was pressure on FMCG and IT shares.
Out of 30 Sensex’s 30 shares, 23 declined and 7 declined. At the same time, out of 50 shares of Nifty, 39 shares increased and 11 shares closed down.
