By Admin 
It stocks ralyly: As soon as the first trading day of the week started in the Indian stock market, there is a tremendous boom in the IT stocks and the top gainer infosys remains. While a 30 -digit Sensex climbed 300 points on BSE, the Nifty 50 is also doing business by going to about 25 thousand. Actually, this boom in the stock market has been seen after a great jump in IT stocks, which came after the signs of the rate cut of the US Fed Reserve.
Why bounce IT share
Shares of major IT companies are seeing tremendous purchases. Stocks of Infosys and TCS jumped up about two and a half percent while Tech Mahindra and HCL Tech have climbed around 2 percent and Wipro’s stocks up 3 percent.
According to the market experts, the major reason for this boom in IT stocks in the Indian stock market is the reduction in possible interest rates in the US, which gives a direct benefit to the emerging market like India and attracts foreign investors.
What do you say
Significantly, from the last few sessions, foreign investors were continuously withdrawing their capital from the Indian market. They were selling their shares. But on the rate cut of US Fed, a very positive sentiment is being seen in the Indian market with the signal.
Dr. Vijay Kumar, Chief Investment Strategist of Jiojit Investments, says that the US Fed Chief has clearly indicated that interest rates will be cut in the month of September. On the other hand, the Asian market has also seen a boom from Japan to Hong Kong.
ALSO READ: With the expectation of US Fed rate deduction from India to Asian market, Sensex-Nifty jumped, these stocks boom
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