Raging Bulls! Sensex Surges 950 pts, Investors Gain Rs 3.55 lk cr; Why Market is Rising?
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Why is Sensex Rising today? Domestic markets extended gains in Monday’s intra-day trade, as improved global cues and low-level buying pushed indices higher, which led to short covering, which, in turn, aided more buying. Furthermore, investor focus also turned to corporate health as earnings season kicks off today with TCS results. The BSE Sensex was trading 951 points or 1.59 per cent higher at 60,851. Nifty50 was trading at 18,131, up 271 points or 1.52 per cent at around 11.35 am. Investors, meanwhile, turned richer by Rs 3.55 lakh crore amid broad-based buying as bulls returned to Dalal Street after three-day hiatus. Frontline stocks such as Infosys, Tata Consultancy Services and Reliance Industries contributed to the climb. As many as 101 stocks hit their 52-week lows today. BSE stocks such as Abbott India, IDBI Bank and Jindal Steel and 98 other stocks hit their respective one-year high levels. That said, 24 stocks touched their one-year low levels today. Here are th...