By Admin 
Share Market: A tremendous rise is being seen in the Indian stock market on Monday. In early trading, both the benchmark indices were seen in the green. On one hand, the main index Sensex of Bombay Stock Exchange (BSE) was seen trading with a strength of about 500 points.
At the same time, Nifty 50 of National Stock Exchange (NSE) also rose by 168.40 points to reach the level of 25,862.10. This rise in the stock market is due to the positive signals received at the global level, strong buying by foreign investors and the huge jump in PSU banking shares.
Grand return of foreign investors
A major reason for the tremendous rise in the stock market today is the strong buying by Foreign Institutional Investors (FIIs). This helped both Sensex and Nifty rise. Exchanges data shows that on February 6, FIIs bought shares worth Rs 1,950.77 crore. Earlier on February 5, FIIs had sold shares worth Rs 2,150.51 crore.
At the beginning of the month on February 3, foreign investors bought shares worth Rs 5,236.28 crore. On February 4, his stance was almost neutral and on this day he made small purchases worth Rs 29.79 crore. So far this month, FIIs bought shares worth Rs 93,250.26 crore and sold shares worth Rs 90,604.73 crore. This continuous return of foreign investors has strengthened the confidence of investors in the market and supported the rise in the benchmark index.
Trade deal between India and America
The market has also received support from the India-US trade deal. Indian companies, especially export related companies, are expected to benefit on a large scale from this. Brokerage firm Bernstein said that based on the information received so far, this trade deal is positive for Indian equities. Auto component companies may benefit from this, while the pharmaceutical sector may be protected from potential downside risks.
The brokerage said that the reduced tariffs will help in improving India’s trade balance with the US, which had weakened due to the earlier tariffs. Better export flow is expected to support dollar inflow, strengthen the balance of payments and provide mild support to the rupee.
Shares of PSU banks rose
In today’s trading session, the rise in shares of state-run bank State Bank of India (SBI) also helped the market rise. PSU banking shares were among the top gainers in today’s session, which strengthened the entire market. On February 9, SBI shares reached a record high level of about 7 percent.
In fact, better-than-expected performance in the December quarter boosted investor confidence in its shares. Its net profit increased by 24 percent in the December quarter. After this, many brokerage firms increased their target prices for SBI, which supported the sharp rise in the stock. SBI led the rally in PSU banking sector today.
In morning trade, the Nifty PSU Bank index gained 3.52 per cent, with SBI being the top gainer, rising by 6.70 per cent. Apart from this, shares of Indian Bank rose by 3.48 percent, shares of Bank of India rose by 3.32 percent, shares of Central Bank of India rose by 2.38 percent and shares of UCO Bank rose by 2.24 percent. Apart from these, Punjab and Sind Bank rose by 2.18 percent, Union Bank of India by 1.53 percent, Canara Bank by 1.52 percent, Punjab National Bank by 1.42 percent, Bank of Baroda by 1.37 percent and Bank of Maharashtra by 1.08 percent.
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