Market magic: ₹12 lakh crore added in a day, biggest 8-month gain
Mumbai (The Uttam Hindu) : Indian stock markets closed in the green on Tuesday, driven by the US-India trade deal. The Sensex closed 2,072.67 points, or 2.54 percent, higher at 83,739.13, and the Nifty gained 639.15 points, or 2.55 percent, to close at 25,727.55.
Investors made ₹12.06 lakh crore
The total market capitalization of BSE-listed companies rose to ₹467.09 lakh crore today, from ₹455.03 lakh crore on the previous trading day. Thus, the market cap of BSE-listed companies increased by approximately ₹12.06 lakh crore today. In other words, investors' wealth increased by approximately ₹12.06 lakh crore.
Realty and financial stocks pulled the market higher. Among the key indices, Nifty Realty (4.79%) and Nifty Financial Services (3.27%) were the top gainers, followed by Nifty Healthcare (3.16%), Nifty Infra (3.03%), Nifty Pharma (3.02%), Nifty Energy (3.02%), Nifty Auto (2.81%), and Nifty Metal (2.87%).
In the Sensex pack, 28 out of 30 stocks closed in the green. Adani Ports, Bajaj Finance, IndiGo, Power Grid, Sun Pharma, Bajaj Finserv, SBI, L&T, Axis Bank, Titan, ICICI Bank, Maruti Suzuki, Trent, Eternal, NTPC, Tata Steel, HDFC Bank and M&M were the top gainers. BEL and Tech Mahindra were the top losers.
Along with largecaps, midcaps and smallcaps also saw strong buying. The Nifty Midcap 100 index was up 1,639.50 points, or 2.84 percent, at 59,307.10, and the Nifty Smallcap 100 index was up 465.60 points, or 2.82 percent, at 16,988.95.
Speaking to IANS, market expert Sunil Shah said the India-US trade deal has created a positive environment for the domestic economy and capital markets. This will help India achieve faster growth in the long term.
Shah further stated that this deal will significantly benefit India's textile, gems and jewelry, and other sectors. Another market expert, Jitendra Vyas, stated that the market has reacted very positively to the India-US trade deal, which will benefit the market in the long term. This will significantly benefit the textile sector, as the deal will allow Indian exporters to sell their goods in the US at more competitive prices compared to countries like Bangladesh. Furthermore, the pharmaceutical and IT sectors will also benefit from this deal.
Stock market expert Deepen Dudhia said that the market had seen a decline due to US tariffs, but now it has declined to 18 percent. This will increase investor interest in the market. In the coming time, the stock market may see an increase of up to 15 percent.