Stock Market Closing, 27th June, 2023: Tuesday was a mars for the Indian stock market, which broke a three-business-day losing streak. The market cap has increased by around 1.50 lakh crore due to the rally in the stock market today due to investor buying. After today’s increase, investor wealth has reached 292.16 lakh crore, which was 290.67 lakh crore on Monday.
Why did the surge come today?
Today the Indian stock market index Sensex rose 446.03 points to close at 63,416.03 points and Nifty rose 126.2 points to close at 126.2 points. From July 1, after hearing the news of the merger of HDFC Bank and HDFC Bank, there was a buying in banking stocks. Due to which the market was raised. A jump of more than 500 points was seen in Bank Nifty. Today 1965 shares advanced, 1420 shares declined and 138 shares were unchanged. On Monday, the Sensex closed down 9.37 points at 62970 points and the Nifty rose 25.7 points at 18691.20 points.
Sensex jumps 446.03 points to settle at 63,416.03 points; Nifty climbs 126.20 points to close at 18,817.40 points
— Press Trust of India (@PTI_News) June 27, 2023
Sectoral update
The biggest gains in today’s trade were seen in banking and financial sector stocks. Bank Nifty crossed the 44,000 mark due to buying in banking stocks. Bank Nifty closed at 44,121 points with a jump of 480 points. Looking at other sectors, buying was seen in shares of auto, IT, pharma, metals, real estate, media, energy, infra, healthcare, consumer durables sectors. While the shares of oil and gas and FMCG sectors have seen a decline. The mid cap index has witnessed tremendous growth due to the buying of mid cap stocks. Small cap stocks have also closed with great gains. 27 out of 30 Sensex closed higher and 38 out of 50 Nifty closed higher and 12 closed lower.
How did today start?
Indian stock markets opened on a positive note today amid mixed global cues. Sensex rose 223.78 points and Nifty 68.80 points to open at 18,760.
Investors’ assets of Rs. 1.44 lakh crore jump
The boom in the stock market has led to a huge surge in the wealth of investors. At market close, BSE’s market cap was Rs. 292.16 lakh crore to close at the level of Rs. 290.67 lakh crore was. In today’s trading session, investors’ assets were Rs. 1.44 lakh crore has jumped. However, the stock market will remain open on Wednesday. Earlier, the market was closed on Wednesday. But now Thursday will be Eid holiday.
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