Sensex 394 points strong

The stock market has been booming amid strong domestic and global signals. After the fall of last week, the market got a great recovery on 1 March.

Mumbai: Global markets gained momentum in anticipation of new relief measures from the new government in the US. Meanwhile, on Wednesday, the domestic stock market reached a new record high, as shares of information technology, energy and auto companies strengthened. The 30-share BSE Sensex closed up at a new record level of 49,792.12 points, up 393.83 points or 0.80 percent. Similarly, the NSE Nifty jumped 123.55 points or 0.85 percent to reach a high of 14,644.70 points.

America’s designated finance minister, Janet Yellen, called for a huge impetus to protect the American economy. After this, shares of the world rose on Wednesday. Elected President Joe Biden will take the oath of office on Wednesday. He has proposed a stimulus package of 1.9 thousand billion dollars to boost the economy.

Maruti Suzuki was the biggest gainer among Sensex companies by 2.75 percent. It was followed by Tech Mahindra (2.67 percent), Mahindra & Mahindra (1.98 percent) and Asian Paints (1.98 percent). Reliance Industries, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also gained momentum. This strengthened the market for the second consecutive day.

In contrast, Powergrid Corporation lost 1.75 per cent and NTPC lost 1.35 per cent.

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