Share Market: Stock market gains, Sensex closed above 39800

Share Market: Stock market gains, Sensex closed above 39800

The Sensex fell by over 100 points in early trade on Wednesday due to a fall in financial stocks and a weak signal from global markets. However, at the end of trading, the Sensex gained 304.38 points to 39,878.95 and the Nifty rose 76.45 points to end at 11,738.85.

The 30-share sensitive index of the BSE fell 100.60 points, or 0.25 percent, to 39,473.97 points in the early stages of Sensex trading. At the same time, NSE Nifty also fell by 23.45 points or 0.20 percent to 11,638.95 points during this period. Initially, Bajaj Finance was the biggest loser among the Sensex companies by about five per cent. Apart from this, shares of Bajaj Finserv, IndusInd Bank, ICICI Bank, Kotak Bank and Axis Bank were also in decline. However, ONGC, Maruti Suzuki, Reliance Industries, Hindustan Unilever and UltraTech were the leading gainers.

The market closed with a rise yesterday
On Tuesday, the Bombay Stock Exchange (BSE) Sensex jumped 600 points to close at 39,574.57 levels due to positive cues from global markets and strong buying sentiment. The Nifty closed at 11,660.20 with a gain of 156.85 points. The stock market data showed that foreign investors bought Rs 1,101.76 crore in the market on Tuesday.

Rupee 13 paise strong
The rupee’s exchange rate fell for two consecutive days and rose by 13 paise to 73.33 per dollar against the domestic currency, as domestic stock markets rose and investment by foreign portfolio investors increased. The rupee opened at 73.53 per dollar and steadily strengthened during trading. Finally, it gained 13 paise to end at 73.33 per dollar. Earlier on Tuesday, the rupee closed at 73.46 per dollar.

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