GE Shipping shares were the biggest gainers today. Its stock closed at Rs 401 level with a gain of 15.71 per cent.
The RBI has made several announcements to revive the economy in times of crisis.
The market was happy with the announcement of the Reserve Bank and on Wednesday the stock market continued to fall on the decline for the last three days. Today the Sensex jumped 424 points and closed. The announcement of measures taken by RBI to support the economy facing COVID-19 challenges boosted the market of stocks of financial companies. The market cap of BSE listed companies reached Rs 208.66 lakh crore today. Gaya which was Rs 206.83 lakh crore yesterday. In this way, there was a surge of 1.83 lakh crores in the assets of the investor in a day.
GE Shipping shares were the biggest gainers today. Its stock closed at Rs 401 level with a gain of 15.71 per cent. It has been closing steadily for the last five trading sessions. Its stock closed at Rs 315 level last week. Its stock has risen by 86 rupees in only three trading sessions. In this way, it has increased by 27 percent. Today, the Sensex jumped 424.04 points, or 0.88 per cent, to close at 48,677.55.
Similarly, the National Stock Exchange’s Nifty closed at 14,617.85 points with a gain of 121.35 points, or 0.84 per cent.
Sun Pharma was the biggest gainer
Sun Pharma was the biggest gainer in the Sensex shares with a gain of about 6 per cent. Apart from this, Kotak Bank, Axis Bank, IndusInd Bank, ICICI Bank, Dr. Reddy’s, Titan and TCS also gained momentum. On the other hand, the stocks that have fallen are Bajaj Finance, Asian Paints and HUL.
Financial, IT companies share strong
Vinod Modi, strategy head, Reliance Securities, said, “Domestic stock market was supported mainly by shares of financial, IT and pharmaceutical companies. The market was boosted by the announcement of measures by the RBI to support the economy in dealing with the challenges posed by the second wave of the COVID-19 pandemic. ”
Reserve Bank gave relief to all
The Reserve Bank of India (RBI) on Wednesday gave some individual and small borrowers more time to repay the loan, and asked banks to give priority to the health infrastructure related to vaccine manufacturers, hospitals and COVID on a priority basis. Most major segment-wise indices, except for companies making daily-use goods, rose sharply.
Reduction in cases in MP, Maharashtra, Gujarat
According to Vinod Modi, in many states, cases of corona infection and increase in the number of deaths from it are cause for concern. However, cases have come down in many states including Maharashtra, Madhya Pradesh and Gujarat, which is a matter of relief. Other markets in Asia declined in Hong Kong while Seoul, Shanghai and Tokyo markets remained closed due to the holiday. There was a downward trend in initial trading in Europe’s major markets. Meanwhile, the international oil standard Brent crude gained 1.34 percent to reach $ 69.80 a barrel.
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