There is news that Narendra Modi will take oath as Prime Minister three times on June 8, due to which the stock market has seen a rise.
The first trading session saw a skyrocket in the volatile stock market and closed with a gain of more than 3 percent. This rise came as news emerged in the market that the NDA government could soon be formed and on Saturday, i.e. June 8, Narendra Modi could take oath as the Prime Minister of the country for the third time. Leaders of both the alliances arrived in Delhi on Wednesday. The NDA meeting was held at the Prime Minister’s residence. The effect of this was clearly visible on the stock market as well. Due to this boom, stock market investors have made profits of more than Rs 13 lakh crore. A day ago, due to the stock market crash, investors had suffered a loss of over Rs 31 lakh crore.
Tremendous increase in the stock market
Tremendous growth is seen in the stock market on Wednesday. According to the data, Bombay Stock Exchange’s main index Sensex closed at 74,382.24 points up 3.20 per cent or 2,303.19 points. During the trading session, Sensex saw a rise of over 2,500 points and reached a high of 74,534.82 points. However, today the Sensex opened at 73,027.88 points with an increase of about 1,000 points and soon touched the lowest level of the day of 71,879.44 points.
If we talk about Nifty, the main index of the National Stock Exchange, then a good recovery has been seen. After falling almost 6 percent on Tuesday, it closed at 22,620.35 points with an increase of 735.85 points on Wednesday, or 3.36 percent. However, during the trading session, Nifty reached a high of 22,670 points. Although today Nifty opened at 22,128.35 points, after some time Nifty reached the lowest level of the day at 21,791.95 points.
What stocks are going up?
A day earlier, a big drop was seen in the shares of Adani Port and SEZ, in which a good recovery was seen on Wednesday. According to the data, Adani Port shares saw an increase of more than 7 percent. Shares of IndusInd Bank also closed up over 7 per cent. Hindalco shares saw an increase of 6.46 per cent. Shares of Tata Steel and Mahindra & Mahindra have also seen a rise of over 6 per cent.
Although Hindustan Unilever’s share rose by more than 8 percent today morning, after the market closed this rise came down to 4.27 percent. Shares of Reliance Industries also closed up 1.74 per cent. Infosys also saw a rise of 2.5 per cent. Shares of Wipro, Bharti Airtel and HCL saw a rise of 3 per cent.
Investors benefited by Rs 13 lakh crore
Stock market investors also recovered some of their losses on Tuesday. According to the data, the market capitalization of BSE on Tuesday was Rs 3,94,83,705.27 crore. Which increased to 4,07,97,530.34 crore today. This means that stock market investors have made a profit of Rs 13,13,825.07 crore. A day ago, there was a drop of around 6 per cent in the stock market and investors suffered a loss of over Rs 31 lakh crore.
