Stock Market closed up for the fourth consecutive session; Sensex jumped 296 points

Share Trading at a firm in Kolkata on the Budget presentation day on February 01, 2017. Sensex soared by nearly 500 points with infusing Rs. 10,000 crore in public sector banks and keeping the long-term capital gains tax unchanged for the capital markets. Express photo by Partha Paul. 01.02.2017.

Stock Market closed up for the fourth consecutive session; Sensex jumped 296 points- Domestic stock markets closed on Monday for the fourth consecutive session on increased buying by pharma and metal stocks. BSE’s 30-share sensitive index Sensex closed at the level of 49,502.41, up 295.94 points or 0.60 per cent. Similarly, NSE Nifty gained 119.20 percent or 0.80% to close at 14,942.40 points. The shares of Coal India, UPL, Hindalco Industries, IOC and Tata Motors were the biggest bumps on the Nifty. Shree Cements, UltraTech Cement, Britannia Industries, Infosys and Hero MotoCorp were the biggest losers.

Talking about sectoral indics, indices like Auto, Energy, Infra, Pharma, Metal and PSU Bank saw a rise of one to three percent. At the same time, the BSE Midcap and Smallcap Indics also saw a rise of about one percent.

Sensex is a rage in these stocks

L&T shares saw the maximum jump of 3.89 percent on Sensex. Apart from these, Dr Reddy’s stock gained 3.01 per cent and Sun Pharma’s stock rose 2.74 per cent. Apart from these NTPC, Powergrid, IndusInd Bank, ONGC, M&M, Kotak Mahindra Bank, HDFC, Tech Mahindra, ICICI Bank, SBI, Maruti, Hindustan Unilever Limited, Bharti Airtel, TCS, HDFC Bank, Titan, Nestle India, Asian Paint, Bajaj The shares of Finjerve, ITC, Bajaj Finance and Bajaj Auto closed with a green mark.

These stocks are in red mark

On the other hand, UltraTech Cement saw the biggest fall of 1.22 per cent. Apart from these, shares of Infosys, Reliance Industries, HCL Tech and Axis Bank closed with a red mark.

Binod Modi, Head (Strategy), Reliance Securities, said, “Domestic stock markets have gained for the fourth consecutive session, accelerating the Kovid-19 cases and ignoring travel restrictions imposed by many states.”

Talking about other Asian markets, the stock markets closed with gains in Shanghai, Tokyo and Seoul. Markets in Hong Kong closed down. European markets were seeing a decline in the afternoon session.