Sensex Jumps 1041 Points For The Second Consecutive Day In The Stock Market
By Lokmat English Desk | Published: July 28, 2022 06:36 PM2022-07-28T18:36:31+5:302022-07-28T18:36:31+5:30
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Extending gains for the second straight session, the equity benchmark Sensex jumped by nearly 2 per cent to soar past the 56,000-mark on Thursday, propelled by robust buying in finance, banking and IT stocks
Value-buying persisted in blue chips as well as select mid- and small-cap counters after their recent spell of weakness, traders said.
A strong recovery in the rupee further boosted domestic equities despite the US Federal Reserve hiked rates to tame inflation, they added.
The US Federal Reserve on Wednesday raised key interest rates by 75 basis points for the second straight month.
The 30-share BSE benchmark jumped 1,041.47 points or 1.87 per cent to settle at 56,857.79. During the day, it rallied 1,097.9 points or 1.96 per cent to 56,914.22.
The broader NSE Nifty advanced 287.80 points or 1.73 per cent to 16,929.60. The Nifty rose sharply after the US Fed’s comments hinting at a possibility of a slower pace of monetary tightening, Deepak Jasani, Head of Retail Research, HDFC Securities, said.
