Last Updated: March 03, 2023, 12:13 IST
Why is Stock Market Rising Today?
Why is Sensex Rising Today? Strong global mood propelled domestic markets higher in Friday’s trade, led by gains across index-heavyweights
Strong global mood propelled domestic markets higher in Friday’s trade, led by gains across index-heavyweights like SBI, Reliance Industries, NTPC, HCL Technologies, Bharti Airtel, among others. The Nifty 50 index rose 253.60 points or 1.41 per cent to 17,575.50, while the S&P BSE Sensex surged 850.56 points or 1.43 per cent to 59,753.54, as of 11.44 am.
On reasons that fueled sentiments of global markets today, Sumeet Bagadia, Executive Director at Choice Broking said, “Sensex is bouncing back from its lows and the 30-stock index may become highly bullish if it manages to close above 59,500 levels. If Sensex closes above 59,500 levels on Friday, the we can expect this BSE index to touch 60,100 and 60,900 levels in near term. However, on the lower side, Sensex has strong support placed at 58,800 to 58,700 levels. Breaching this support should be assumed as more downside move in the index.”
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