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Stock Market Today: On Thursday, the Indian stock market witnessed a spectacular rise. The BSE Sensex reached a two-week high with a massive gain of 1,436 points. Heavy buying in the shares of financial, automobile and information technology (IT) companies determined the direction of the market.
Excellent performance of Sensex and Nifty
The Sensex closed at 79,943.71 points with a gain of 1,436.30 points or 1.83 percent. This was the biggest one-day rise in more than a month. During trading, the Sensex gained up to 1,525 points. At the same time, the Nifty closed at 24,188.65 points, up 445.75 points.
Highest Profiting Stocks
Many of the 30 major companies of the Sensex performed well. Bajaj Finserv and Bajaj Finance gained 8 and 6 percent respectively. Apart from this, shares of Maruti, Titan, Mahindra & Mahindra, Infosys, HCL Tech and Zomato also made profits.
The only company in decline
Sun Pharma was the only company whose shares declined.
Increase in GST collection
India's GST collection grew by 7.3 percent to Rs 1.77 lakh crore in the month of December. This growth was seen despite an increase in domestic and export tax refunds.
Slowdown in manufacturing sector
India's manufacturing sector growth fell to 56.4 in December, the lowest in 12 months. This was due to slower production and new orders. However, the figure is still above the long-term average of 54.1, which points to a stable growth.
Volatility in global markets
In Asian markets, South Korea's Kospi, China's Shanghai Composite and Hong Kong's Hang Seng were in losses. There was a downward trend in major European markets as well.
Attitude of foreign investors
Foreign institutional investors sold shares worth Rs 1,782.71 crore on Wednesday.
hike in oil prices
Global oil benchmark Brent crude rose 1.09 per cent to USD 75.47 per barrel.
It is noteworthy that this rise in the stock market has once again attracted the attention of investors and this is a positive sign for attracting new investment.
