Sensex rose over 900 pts on Wednesday amid broad-based rally in the equity market. Investor wealth climbed by Rs 7.21 lakh crore to Rs 392.28 lakh crore today compared with a valuation of Rs 385.07 lakh crore recorded in the previous session. Sensex climbed 931 pts to 73,921 and Nifty gained 304 pts to 22,386, reflecting strong investor sentiment on Dalal Street. Nifty had closed lower in the last ten sessions and looks set to snap its losing streak today.
The rally in the Indian market came today amid reports that US President Donald Trump is likely to announce a compromise with Canada and Mexico as early as Wednesday. This could imply a likely rollback of new 25 per cent tariffs on the two trading partners, CNN quoted US Commerce Secretary Howard Lutnick as saying.
Here's a look at today's market crash in numbers:
Top gainers
Stocks such as Adani Ports & Special Economic Zone Ltd, PowerGrid, M&M, NTPC Ltd , Tech Mahindra, Tata Steel, Tata Motors and HCL Technologies led the gainers on Sensex, rising up to 5.35% in the afternoon session. Of 30 Sensex stocks, 26 were trading in the green.
170 stocks hit 52-week lows
As many as 48 stocks hit their 52-week highs today. On the other hand, 170 shares fell to their 52-week lows on BSE today.
Market breadth in green
Out of 3,966 stocks traded, 3175 stocks were trading in the green on BSE. Around 689 stocks were trading in the red while 102 stocks remained unchanged.
Lower circuits, Upper circuits
Around 8 stocks hit their lower circuits even as the stock market saw a stellar recovery today. On the other hand, 196 shares hit their upper circuit limits amid bullish sentiment on BSE.
Expert take
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "It is better for investors to wait and watch for the events to unfold. Fairly valued growth stocks, particularly those focused on domestic consumption like financials, telecom etc, and exports to non-US markets like segments of autos , can be slowly accumulated for the long-term."
Midcap, smallcap indices gain
BSE midcap index rose 906 pts to 39,628, indicating strong sentiment in the broader market. BSE small cap stock index too climbed 1,000 pts to 44,326 level.
FII-DII selloff
Foreign institutional investors sold Rs 3,405 crore worth of equities on a net basis on Tuesday, while domestic investors bought Rs 4851 crore of shares, as per provisional NSE data.
Previous session
Nifty extended its losing streak for the tenth consecutive session on Tuesday. Sensex fell 96 pts to 72,989 and Nifty slipped 36 pts to 22,082.