Panic of war in stock market disappears: Sensex jumps 600 points
All-round take on heavyweight-cash: current in metal stocks
Rajkot, dated 10
As if the panic of the war has gone away in the Mumbai stock market, there was a retaliatory rise today. Shares across all sectors, including heavyweight cash, surged 600 points on all-round buying.
There was a mood correction in the stock market today. Discounting the Israel-Hamas war had a positive impact at home as world markets rallied. The discounting led to a massive sell-off by foreign financial institutions. The booming Indian economy and the optimism of a booming business in the coming festive season had a positive effect.
According to the well-known stockbrokers, there was a relief from the calculation that the war would not have any serious impact and that the war would not last long. In the stock market today Tata Motors, Tata Steel, Ultratech Cement, Vpro, Axis Bank, Bajaj Finance, Bharti Airtel, HDFC Bank, ICICI Bank, Infosys, JSW Steel, Kotak Bank, Mahindra, Maruti, Powergrid, Reliance, State Bank, Coal India, Adani Port, Hindalco, GMDC etc. were raised. Dr. Reddy, Cipla, TCS etc. were down.
The sensitive index of the Mumbai stock market rose by 600 points to 66109 from a high of 66149 and a low of 65662. The National Stock Exchange’s Nifty jumped 182 points to 19694 from a high of 19707 and a low of 19707 and a low of 19565.