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Market rally after sharp decline in previous trade; Sensex, Nifty rise over 1 per cent

Market rally after sharp decline in previous trade; Sensex, Nifty rise over 1 per cent

Equity indices opened on a firm footing on Thursday and gained further momentum after a sharp fall in the previous trade with the BSE Sensex rising 580 points amid a mixed trend in global markets.

The 30-share BSE Sensex was trading at 52,403.77 with a gain of 581.24 points. NSE Nifty rose 181.40 points to 15594.70.

major beneficiary

From the Sensex pack, Bharti Airtel, Wipro, Maruti, TCS, Larsen & Toubro and IndusInd Bank were among the major gainers in early trade.

Titanand Power Grid, on the other hand, was lagging behind.

Elsewhere in Asia, markets in Tokyo and Seoul were trading lower, while Hong Kong and Shanghai were in the green.

On Wednesday, US markets closed with a slight decline.

Crude prices fall

“Boosting sentiment will be a sharp fall in WTI crude oil prices. However, rising concerns of rising US interest rates, fresh rupee depreciation and unabated FII selling will keep the market volatile,” Prashant Taapsee said. Vice President (Research), Mehta Equities Ltd.

The 30-share BSE Sensex closed at 51,822.53, down 709.54 points or 1.35 per cent on Wednesday. The NSE Nifty fell 225.50 points or 1.44 per cent to end at 15,413.30.

Meanwhile, international oil benchmark Brent crude fell by 2.25 per cent to $ 109.25 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 2,920.61 crore on Wednesday, according to exchange data.

Published on

23 June 2022

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Market rally after sharp decline in previous trade; Sensex, Nifty rise over 1 per cent

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