Stock Market Today: Nifty Closes Near 23,000, Sensex Up 1.8%: IndiGo, L&T, Eternal, Asian Paints Top Gainers
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Stock Market Today: The Indian stock market held the early day gains and closed higher on Tueday after seeing a sharp sell-off over the past one week. Nifty 50 ended 1.78% higher at 22,912. Whereas BSE Sensex closed 1372 points higher at 74,068 points. The key driver behind stock market’s recovery was the five-days ceasefire announced by the United States President Donald Trump in Iran-US war.
Nifty 50 has declined more than 12% over the past two weeks, whereas Sensex has also tumbled close to 13% since the beginning of the Iran-US war. Indian stock market today closed higher as investors reacted to a slew of positive developments like de-escalation of Iran-US war, Indian Rupee recovery, etc. However, crude oil prices remained firm after previous session’s decline.
Stock Market Closing: Big Gainers
Tata Motors, InterGlobe Aviation, L&T, Eternal, Bajaj Finance, Shriram Finance, HDFC Bank, were among the top gainers. IndiGo, LT, Bajaj Finance, were among the top Nifty 50 gainers.
Stock Market Closing: Big Losers
Coal India, Power Grid, Adani Enterprises, Sun Pharma, Cipla were among the top losers.
Platform Companies Surge
Platform companies like Eternal, Urban Company, Meesho, etc saw healthy recovery on Tuesday. Eternal share price closed 4.84% higher, Urban Company stock was trading 3.77% higher, whereas Meesho share price was up 5.67%.
Banking Stocks Recovered
Multiple banking sector stocks also staged a sharp recovery on Tuesday. HDFC Bank share price snapped its four-day losing streak and recovered around 3% during Tuesday’s trading session. Bank Nifty ended 2.2% higher with HDFC Bank, AU Bank, Kotak Bank, Canara Bank, IDFC First Bank among the top gainers.
Broad Market Indices End In Green
Broad market indices also ended in green with Nifty Midcap 50 and Nifty Midcap 100 ending the day around 2% higher. Nifty 100, Nifty 200, and Nifty 500 ended Tuesday’s trading session 1.92%, 2.06% and 2.09% respectively. India Vix was down 6.8%.
Indian Rupee Recovery
The Indian rupee also recovered during Tuesday’s trading session after witnessing a sharp fall over the past few sessions. It settled at 93.78 per US dollar, compared to Monday’s close of 93.98 per US dollar.
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