Mumbai: Dalal Street on Wednsday Saw a Bounce Back after the Negative Trend of the Past Two Weeks. The sensex rose by 740 points or 1 per cent white nifty revered its 10-Session losing streak with a 255-point (1.2%) gain. Positive Global Cues and Short Covering By Traders and Speculators Aided The Rally, Market Players said. Brokers and dealers, however, are cautious about the turnover and warned investors to be on guard over the next few weeks.
The sensex opened in the green and picked up steam through the session to close at 73,730 points while Nifty Too Followed a similar path and close at 22,338 points. The Day's Session Added Nearly Rs 8 Lakh Crore to Investor Wealth with BSE's Market Cap Now at Rs 393 Lakh Crore.
“A key catalyst behind (wedding's) Market surge was a statement from the US commerce secretary, indicating that the trump Administration Might Ease Tarifs that Had Previous a Global Market Selloff, “Sundar Kewat of Ashika Institutional Equity said in a note. “The us could announs a plan to gradually scale back tariffs on mexican and canadian goods under nafta, ensuring flexibility in trade negotiations.”
Strong Asian Markets also aid the rally in the domestic market. “Hong Kong's Hang Seng Sruised Nearly 2% as China Pledged Fresh Fresh Stimulus Measures to Offset Trade Tensions with the Us. Japan's'Se's Nikkei Alaso Traded Higher, Further Boosting Confidence in Global Markets,” Kewat said.
The Day's Strong Gains in the Market Came Despite A RS 2,895-Crore Net Selling Figure By Foreign Funds in the stock marketDomestic Funds Were Net Buyers at Rs 3,371 Crore, Data on BSE Showed.
(Tagstotranslate) Trade tariffs
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