Even before the results of the assembly elections in five states, including UP, investors were filled with enthusiasm. On Thursday, as soon as the market opened, buying started fiercely and the Sensex showed a big jump of about 1,600 points.
The morning trading on BSE started with a big gain. The Sensex opened with a gain of 1,595 points at 56,242, while the Nifty gained 412 points to open trading at 16,757. Investors started betting fiercely from the very early trends of electoral vote counting. However, later investments looked a bit cautious.
At 9.28 am, the Sensex was trading at 55,761, up by 1,114 points, while the Nifty was trading at 16,658 with a gain of 313 points. For the last two days, both the exchanges have seen a lot of momentum.
Investors are betting fiercely here
Investors still bet heavily on banking and auto stocks. Tata Motors, Asian Paints, HUL, Axis Bank and SBI are seeing the biggest gains on Nifty. However, shares of ONGC, Coal India, Hindalco, Tata Steel and JSW Steel are trading with a decline.
effect of cheap crude
Brent crude prices are coming down as fast as they went up. In the global market, the price of crude has declined by 13.2 percent, or $ 16.84, to $ 111.14 per barrel. This is the biggest one-day fall in the price of crude since April 2021. US crude also declined by $ 15.44 to $ 108.70 per barrel. This has had a profound effect on the market sentiment.
Asian markets also continued to rise
Most of the markets in Asia have opened on a sharp edge today. Singapore’s exchange saw a rise of 1.67 percent, while Japan’s Nikkei is trading at 3.39 percent. Taiwan’s stock market is seeing a jump of 2.17 percent and South Korea’s 2.04 percent. China’s Shanghai Composite also opened with a gain of 1.71 percent.
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