Sensex and Nifty Surge by 1.54% & 1.38% Respectively

Sensex closed at 31863.08 with surge of 483.53 points. Nifty gained momentum and ended at 9313.90 with an increase of 126.6 points.

Indian share market today topped the last month high on expectations from Government for boosting Bank and IT stocks after coronavirus outbreak. Market today gained at a good pace, thus ending with over 1.5% gains. Nifty shares are bouncing back after going below 9000 on Tuesday.

Top Gainers: Sensex and NIFTY

Kotak Mahindra Bank gained 8.31% after nod on share sale of capital worth INR 7500 Crores. Morgan Stanley and CLSA set INR 1400 plus target on Kotak Mahindra Bank. While TCS, Infosys and ICICI Bank stock increased by 5.52%, 5.16% and 4.42% respectively.

Zee Entertainment Ltd gained pace, surged as high as 14.19% intraday, and settled with an increase of 3.75% at the close of the session.

Top Losers: Sensex and NIFTY

Titan saw a decline in its share value today by 3.73% followed by Hindustan Unilever, Power Grid and Shree Cement with declining by 2.73%, 2.50% and 2.44% respectively.

FII/DII to Experience Growth

Today’s session saw a decline in net value taken out from Indian market by foreign investors and ended at 114.58 crores. They invested in stocks of value INR 6171.82 crores and sold shares of value INR 6286.4 crores.

Domestic institutional Investors saw great potential in the Equity market today and invested more by INR 338.27 crores net value. They bought shares of value INR 3228.87 crores and sold INR 3490.6 crores.

In the coming days, Sensex and NIFTY can experience more investment as Equity market becomes more stable.

Indian Economy to Strengthen with Foreign Investment

Jio-Facebook deal marks India as a leading country with many opportunities. It highlights India’s economic importance and the prospect of India becoming a new growth epicentre.

Mukesh Ambani becomes the wealthiest person in Asia, defeating Jack Ma with this deal between Jio and Facebook. Therefore, this investment will help serve the Indian community with digital transformations and new digital platform for online transactions allied activities.

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