Delhi, 17 September (H.S.): The domestic stock market closed with strength for the second consecutive day, boosting investor wealth by approximately Rs 1.95 lakh crore. Market sentiment improved amid expectations of an interest rate cut by the US Federal Reserve and positive signals regarding easing trade tensions between the US and India.
The trading day opened on a strong note, with the Sensex and Nifty indices showing resilience despite bouts of selling pressure throughout the day. The Sensex closed with a gain of 0.38 percent at 82,693.71 points, up by 313.02 points, while the Nifty rose 0.36 percent, closing at 25,330.25 points with a gain of 91.15 points.
Government bank shares led the rally, supported by strong buying in Oil & Gas, Automobile, IT, and Realty sectors. Capital goods, public sector enterprises, and the tech index also closed with gains. Conversely, metal, FMCG, pharmaceutical, and consumer durable sectors experienced selling pressure.
The broader market reflected the positive trend, with the BSE Midcap index climbing 0.19 percent and the Smallcap index rising 0.51 percent.
Investor wealth surged as the market capitalization of BSE-listed companies rose to Rs 464.82 lakh crore from Rs 462.87 lakh crore the previous day.
Active trading on BSE involved 4,328 shares, with 2,415 closing higher and 1,740 closing lower. On NSE, out of 2,804 actively traded shares, 1,602 gained while 1,202 declined.
Among heavyweight shares, Tata Consumer Products gained 4.05 percent, SBI 3.08 percent, Bharat Electronics 2.31 percent, Maruti Suzuki 1.46 percent, and Kotak Mahindra Bank 1.41 percent. On the losing side, Bajaj Finserv fell 1.12 percent, Titan 0.95 percent, ITC 0.92 percent, SBI Life Insurance 0.81 percent, and HDFC Life 0.81 percent.
The market remained volatile, with the Sensex swinging between intraday highs of 82,741.95 and lows of 82,490.47 points but staying firmly in the green range. The Nifty also fluctuated but maintained overall strength throughout.
This sustained market optimism is driven largely by hopes for an interest rate cut by the US Federal Reserve and improving bilateral trade relations between India and the US, signaling potential positive momentum ahead for domestic equities.
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Hindusthan Samachar / Jun Sarkar
