Stock market flooded with money ahead of Dhanteras
The stock market continues to see strong gains ahead of Dhanteras and Diwali. Wednesday's rally continued on Thursday, pushing the Sensex past the 83,000 mark and reaching a one-month high. This surge is once again driven by foreign investment. Meanwhile, the Fed's subsequent indication of an interest rate cut by the RBI is also being felt.
The Sensex has already seen a surge of over 450 points, resulting in investors gaining approximately ₹2.50 lakh crore.
Market is witnessing a surge for the second consecutive day
Following the US market, the bullish sentiment in Asian markets also appears to be supporting the Sensex and Nifty. Experts say the stock market is saturated with liquidity. Major IPOs like Tata Capital and LG Electronics haven't hurt investors, leading to a buoyant market sentiment.
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Furthermore, there's strong investor sentiment that the stock market can easily absorb IPOs with a value of over ₹10,000 in the coming days. A glimpse of this was seen last year during the Hyundai IPO, which became the largest IPO in Indian stock market history.
Which Stocks Are Rising?
Out of the top 30 stocks on the BSE, only 7 are trading in the red. Significantly, all are experiencing slight declines. Axis Bank, on the other hand, is seeing the biggest increase. Titan shares are also seeing a rise, with only two stocks gaining more than 2%. Shares of Mahindra & Mahindra, Tata Motors, Adani Port, and Bajaj Finance are all up over 1.5 percent.
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Shares of Trent and Eternal are also up over 1 percent. Foreign investors have invested over ₹3,000 crore in five of the past seven trading sessions, contributing to the bullish sentiment in the stock market.
Investors Gain ₹2.30 Lakh Crore
This rally in the stock market has also resulted in substantial gains for stock market investors. These gains and losses are linked to the market cap of the stock market. On Wednesday, the BSE market cap was ₹4,63,78,063.1 crore, which has now increased to ₹4,66,27,430.60 crore.
Summary
This means that stock market investors have gained approximately ₹2.50 lakh crore. According to experts, similar gains are expected in the coming days.