The stock market opened up for the 6th consecutive day on Wednesday. However, in the opening minutes it came down from yesterday's closing level, which is still trading with an edge. The Sensex is trading at 47,708.91, up 95.83 points. However, the index touched a day high of 47,807.85 during trading. The index gains are led by the shares of Bajaj, HDFC, HCL Tech and Reliance. The index opened up 175.95 points at 47,789.03 in the morning. The total market cap of the companies listed in the BSE has reached Rs 187.54 lakh crore.
Similarly, the Nifty is trading at 13,953.65 with a gain of 21.05 points. However, the index touched 13,982.90 in early trade. UPL shares in the Nifty index are trading up 2.94% at Rs 468.05. Apart from this, shares of Bajaj Finance and Eicher Motor are also trading up by 2-2%. At the same time, shares of IndusInd Bank and GAIL are trading down by 1-1%. In addition, Sun Pharma and IOC shares are also trading down by 1-1%.
Boom in sugar stocks
According to media reports, the Union Cabinet has approved the proposal to increase the subsidy for ethanol production. This has led to a spurt in sugar stocks. In the BSE, Dhampur Sugar Mills shares are trading up 1.27%, Uttam Sugar shares 2%, Avadh Sugar shares 1.47% and KCP Sugar shares up 1.12%.
Shopping in asian markets too
Today, Hong Kong's Hangseng Index in Asian markets is trading at 27,165, up 597 points (2.25%). In addition, the Shanghai Composite Index of China has also closed up 35 points at 3,414. At the same time, Japan's Nikkei index closed down 100 points (0.36%) at 27,468.
Market condition on Tuesday
The Sensex gained 259.33 points to close at 47,613.08 yesterday. This was the highest level of index in terms of closing. Earlier on Monday, the Sensex had closed at the level of 47,353.75. On Tuesday, the Sensex rally was led by shares of State Bank, HDFC, Bajaj and TCS. On the other hand, the Nifty index also closed at 13,932.60, up 59.40 points. Nifty's top gainer IndusInd Bank shares closed at Rs 916.50, up 5.72%. Apart from this, shares of Axis Bank and Tech Mahindra also closed with gains of over 2-2%.
European markets became fiercely purchased
Yesterday, there was a strong buying in the European markets, especially in the UK. The FTSE index was up 100 points (1.55%) to end at 6,602. In addition, France's CAC index was up 23 points (0.42%) at 5,611. Germany's DAX index, on the other hand, was down by 28 points (0.21%) to close at 13,761.
US markets fall
On Tuesday, selling was seen in US markets. The Dow Jones Index was down 68 points at 30,335, down 0.22%. Similarly, the S&P 500 index was down 8 points at 3,727. In addition, the Nasdaq index also lost 49 points to close at 12,850.
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