By Admin 
Stock Market Today: There was a tremendous rise in the Indian stock market on Tuesday amid the news of possible cut in interest rates by the US Federal Reserve (US Fed) and the progress of India-US trade agreement. BSE Sensex jumped 369 points to close at 84,997.16 points, while during trading it rose 477.67 points to reach 85,105.83. At the same time, NSE Nifty-50 also closed at 26,053.90 points with a gain of 117.70 points (0.45%).
Among the companies included in the Sensex, there was a significant rise in the shares of Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent and Asian Paints. At the same time, a decline was seen in the shares of Bharat Electronics, Eternal, Mahindra & Mahindra and Maruti Suzuki.
Why did the market rise?
Vinod Nair, Head of Research, Geojit Investments Limited, said that positive signals from Asian markets and expectations of possible progress in India-US trade talks strengthened investor sentiment. He said that investors are now waiting for the next decision of the Federal Reserve. There is a possibility of 0.25% interest rate cut in the market. Along with this, the Fed’s press conference will indicate further policy direction.
Midcap-smallcap also bright
BSE Midcap index closed with a gain of 0.68% and Smallcap index closed with a gain of 0.56%. Sector-wise, there was a rise of 2.72% in the energy segment, 2.61% in the utility segment, 2.55% in oil and gas, and 1.68% in the metal segment. On BSE, 2,482 shares gained, 1,668 shares declined, while 175 shares remained unchanged.
Ajit Mishra, SVP (Research), Religare Broking Limited, says that expectations of US rate cuts and positive progress on global trade agreements have boosted investor confidence. For this reason, Indian markets closed with a gain of about half a percent.
The trend of global markets is also positive
In Asian markets, South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite closed with gains. Most of the European markets were also positive, while the American markets closed in the green zone on Tuesday. Foreign institutional investors (FIIs) have also made a comeback in the Indian market. He made a net purchase of shares worth Rs 10,339.80 crore on Tuesday. At the same time, global oil standard Brent crude rose by 0.23% to Rs 64.55 per barrel.
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