1. 5 reasons why Sensex rallied over 400 points, Nifty crossed 8,900 level in today’s trade

5 reasons why Sensex rallied over 400 points, Nifty crossed 8,900 level in today’s trade

The BSE Sensex rallied over 450 points to trade at 18-month-high, while NSE Nifty crossed the psychological level of 8,900 for the first time since March 5, 2015 on Tuesday.

By: | Updated: September 6, 2016 3:43 PM
Sensex, Nifty rally Sensex closed 445.91 points up at 28,978.02, while NSE Nifty settled with gains of 133.35 points at 8,943. (Photo: PTI)

The BSE Sensex rallied over 450 points intraday to trade at 18-month-high, while NSE Nifty crossed the psychological level of 8,900 for the first time since March 5, 2015 on Tuesday. Sensex closed 445.91 points up at 28,978.02, while NSE Nifty settled with gains of 133.35 points at 8,943.

Below are the 5 reasons that are moving the stocks markets today.

1. Domestic stock markets rallied in opening trade taking cues from a firming trend in the global markets after the economic data from US on job creation weakened hopes of an interest rate hike by the Federal Reserve this month. European shares hovered near their 3-month high as commodities-related stocks rallied, though a slump in France’s Ingenico Group led Europe’s tech sector lower.

2. Buying in heavy weight or blue chip counters like Axis Bank, Tata Motors, Infosys, ICICI Bank also contributed to markets rally.

3. Investors also got some support from India’s service industry report that accelerated to its fastest pace in more than 3-1/2 years in August, driven by a surge in domestic and foreign demand. The Nikkei/Markit Services Purchasing Managers’ Index jumped to 54.7 in August, its highest since January 2013, from 51.9 in July.

4. Some support also came with report that foreign institutional investors remained net buyers in equities worth Rs 231 crore on Friday, as per provisional stock exchange data.

5. Indian rupee strengthened against the US dollar and hits its 4 month high on selling of the American currency by exporters and banks amid sustained foreign fund inflows. At 12.23 pm, the local currency was trading 27 paise at 66.55.

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

  1. K
    Kannan
    Sep 6, 2016 at 11:40 am
    The Stock Market goes up 500 points during the Kashmir bandh (no resolution in sight for the K Issue), 100 points when labour unions went on strike and 400 points when Tamil Nadu & Karnataka are screaming for water. INCREDIBLE INDIA. Poor farmers walk away with cots provided during Rahul hi’s Kisan Yatra and a NDTV reporter has the arrogance to pull them up for ‘stealing’. Does Prannoy Roy have the guts to ask the same question to the top industrialists who owe the country 165000 crores? All the business channels are in cahoots with the business houses in the rigging of the stock prices. NDTV runs Morgan Stanley’s book about 8 times in less than 3 days. The book feebly attempts to window dress our country’s strength. The Media makes Tons of money too. Will TV channels have the guts to call the people responsible for the NPAs thieves? Will they run the NPA issue (diversion of funds, worthless collateral, illegitimate international transfers) continuously on their channels? INCREDIBLE INDIA. Filthy and Criminal Nexus.
    Reply
    1. Abhishek Khosla
      Sep 6, 2016 at 8:19 pm
      these are reason are not enough to support such a mive rally in bank nifty , ICICI Bank or tata motors . Tata motors and ICICI Bank were rising as if they would turn into gold overnight and not available from tommorow .
      Reply

      Go to Top