The domestic stock market closed in the green on September 17. The BSE Sensex rose by 313 points to 82,693.71, and the NSE Nifty closed higher by 91 points at 25,330.25. Shares of 20 out of 30 Sensex companies and 34 out of 50 Nifty companies ended with gains, while some companies' shares declined.
Share Market Closing: The country's stock market closed with strength in the green for the second consecutive day on September 17. The BSE Sensex rose by 313.02 points (0.38%) to 82,693.71, and the NSE Nifty 50 Index closed higher by 91.15 points (0.36%) at 25,330.25. Among the 30 Sensex companies, 20, and among the 50 Nifty companies, 34 shares ended in the positive territory. State Bank of India's share closed with the highest gain of 3.02%, while Bajaj Finserv's share fell by 0.99%.
Tuesday's Market Performance
Yesterday, that is on Tuesday, the market also performed bly. The Sensex closed at 82,380.69 points, marking a gain of 594.95 points. Similarly, the Nifty closed at 25,239.10 points, with a jump of 169.90 points. The consecutive two days of gains have boosted optimism and confidence among investors.
Number of Companies Closing in the Green
Today, shares of 20 out of 30 Sensex companies closed in the green, while shares of 10 companies ended in the red. In the case of Nifty 50, shares of 34 out of 50 companies closed with gains, and the remaining 16 companies' shares ended with losses. This data indicates broad-based buying activity in the market.
Performance of Key Stocks
Today, State Bank of India shares, part of the Sensex, closed with the highest gain of 3.02 percent. On the other hand, Bajaj Finserv shares closed with the maximum decline of 0.99 percent. During this period, other major stocks also performed well. BEL shares closed with a gain of 2.36 percent, Kotak Mahindra Bank 1.43 percent, Maruti Suzuki 1.35 percent, Trent 1.21 percent, and UltraTech Cement 1.20 percent.
Tech Mahindra shares closed with a gain of 1.03 percent, TCS 0.87 percent, Tata Motors 0.77 percent, Infosys 0.77 percent, and Mahindra & Mahindra 0.76 percent. Additionally, Sun Pharma 0.64 percent, Reliance Industries 0.60 percent, Asian Paints 0.54 percent, L&T 0.49 percent, Axis Bank 0.43 percent, and NTPC 0.39 percent closed with gains. Bajaj Finance, Eternal, and Bharti Airtel shares also closed with minor gains.
Shares Closing in the Red
On the other hand, some key stocks closed in the red. Titan shares declined by 0.98 percent, ITC by 0.93 percent, Tata Steel by 0.44 percent, Power Grid by 0.42 percent, Hindustan Unilever by 0.26 percent, HCL Tech by 0.21 percent, ICICI Bank by 0.20 percent, Adani Ports by 0.12 percent, and HDFC Bank by 0.06 percent.
Reasons for Market Rally
Experts suggest that there are several reasons behind the continuous market gains. Positive global market cues, buying by domestic investors, and b financial results from large companies are boosting investor sentiment. Furthermore, an increase in investment by FIIs and domestic institutional investors is also driving buying activity in the market.
