Sensex rallies over 600 points: Why stock market rose today?
India Today
The S&P BSE Sensex rallied 650.39 points to close at 83,277.15, while the NSE Nifty50 added 211.65 points to end at 25,682.75.
Dalal Street witnessed a rebound in the afternoon session with Sensex and Nifty erasing losses in early trade to gain more than half a percent each at closing bell.
The S&P BSE Sensex rallied 650.39 points to close at 83,277.15, while the NSE Nifty50 added 211.65 points to end at 25,682.75.
The rally on Sensex and Nifty was fuelled by a rise in both private and PSU banking shares, further aided by gains in FMCG stocks.
Vinod Nair, Head of Research, Geojit Investments Limited, said that after a range-bound opening, domestic markets edged higher, supported by renewed buying interest in banking and power stocks.
"The power sector gained on expectations of sustained demand momentum, while improved loan growth and stable asset quality bolstered confidence in banks," he added.
Power Grid Corporation of India Ltd led the Sensex gainers, rising 4.47%. It was followed by HDFC Bank Ltd, which gained 2.19%. Axis Bank Ltd was up 1.98%, while NTPC Ltd added 1.78%. Adani Ports and Special Economic Zone Ltd also traded higher, rising 1.66%.
For many borrowers under 40, applying for a home loan online is no longer optional, it is the preferred way. Around 72% of borrowers in this age group choose digital applications, and nearly half of borrowers above 60 are also getting comfortable with online processes.
The main trigger for the rally was Infosys announcing a strategic partnership with artificial intelligence firm Anthropic. Investors reacted positively to the news, pushing Infosys shares nearly 3% higher to around Rs 1,407 during the session.
Speaking on the development, Commerce Secretary Rajesh Agrawal said a joint statement outlining the contours of the agreement has already been signed. He said that these contours now need to be converted into a formal legal agreement.
The S&P BSE Sensex rallied 650.39 points to close at 83,277.15, while the NSE Nifty50 added 211.65 points to end at 25,682.75.
The S&P BSE Sensex was down by 47.79 points to 82,578.97, while the NSE Nifty50 lost 7.45 points to 25,464.75 as of 9:48 am.
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