Highlights
- Tata Steel was the biggest gainer in Sensex shares
- Asian Paints down
- Investors are following the buying strategy after the fall
The decline in the stock markets for the last two trading sessions came to an end on Tuesday and the BSE Sensex jumped 887 points. In line with the positive trend in global markets, shares of ICICI Bank, HDFC Ltd., HDFC Bank and Infosys, which have strong shares in the index, rebounded in the market. According to experts, global stock markets have got some relief after a study by Omicron revealed the new form of Covid-19. The study said that although it is spreading rapidly, its impact is mild compared to the delta form.
The 30-share BSE Sensex closed at 57,633.65, up 886.51 points, or 1.56 per cent. Similarly, the NSE Nifty jumped 264.45 points, or 1.56 percent, to close at 17,176.70. Tata Steel was the top gainer with the Sensex gainer nearly four per cent. Apart from this, Axis Bank, ICICI Bank, Kotak Bank, State Bank of India and Bajaj Finance were the main gainers. On the other hand, Asian Paints was the only loser.
Buying in good stocks at cheap rates
Arijit Malakar, Head of Research (Retail), Ashika Stock Broking said, “Markets bounced back after two days of decline amid positive trend globally. Investors are following the strategy of buying after the fall and buying good stocks at cheaper rates. Relieved. Further, the RBI is expected to keep the policy rate unchanged, Malakar said, adding that although it is spreading faster, its impact is milder than in the delta pattern, the study said. The results of the Monetary Policy Committee (MPC) meeting will be announced on Wednesday, December 8.
Also read: After all, why the Sensex jumped more than 1100 points in a single day, know the big reasons for the rise in the stock market!
condition of global markets
In other Asian markets, China’s Shanghai Composite, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei were among the gainers. Major markets of Europe also remained bullish during afternoon trading. Meanwhile, international oil benchmark Brent crude rose 2.26 per cent to $74.73 per barrel.
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