Leader Online Desk : After the Lok Sabha election results, the stock market in the country experienced a big fall on Tuesday (June 4). However, the stock market experienced a boom today (5th) as soon as there was an indication of a stable government at the centre. The market, which had been bullish throughout the day, closed with strong gains. The Nifty rose 735 points to close at 22,620 while the Sensex gained 2303 points to close at 74,382. Nifty Bank rose 2126 points to close at 49,054.
What happened in the stock market today?
The buying and selling started in the green market from morning itself. The Sensex opened with a gain of over 600 points, while the Nifty also opened with a gain of over 200 points. Nifty Bank also saw good growth. Closing Bell- Sensex, Nifty rose 3%. Along with this, all sectoral indices were seen trading in the green. Indian benchmark indices pared losses on Tuesday. Nifty bounced back above 22,600.
Auto, Bank, FMCG, Metal, Telecom and Media saw 4-6 percent gains today. All these sectoral indices closed with private trends. The BSE Midcap index rose 4 percent. While the small cap index rose by 3 percent. All shares of BSE Sensex and Nifty closed in the green. Sensex-Nifty closed up 3% each with Nifty up 735 points to close at 22,620.Sensex closed up 2303 points at 74,382. Nifty Bank rose 2126 points to close at 49,054. . Mid and smallcap indices also closed with strong gains. Nifty Midcap closed up 2115 points at 51,266 and Smallcap closed up 597 points at 16,289.
Stock markets rebound after bloodbath: Sensex jumps 2,303.19 pts to 74,382.24, Nifty surges 735.85 pts to close at 22,620.35
— Press Trust of India (@PTI_News) June 5, 2024
Market confidence increased after Chandrababu Naidu's statement
BJP has failed to single-handedly win the Lok Sabha elections. Now the importance of Chandrababu Naidu and JDU leader Nitish Kumar in the BJP-led 'NDA' has increased. His contribution will be important in establishing the government. But now Chandrababu Naidu and Nitish Kumar will participate in the India Alliance while the discussion is going on in the political circle, today Chandrababu Naidu himself put an end to this discussion by clarifying that we are with the NDA. This had a positive effect on the stock market.
The market experienced a major fall on Tuesday
The results of the Lok Sabha elections had a negative impact on the market. The market experienced the biggest fall in the post-Corona period as the BJP did not get an absolute majority. Investors' wealth had declined by Rs 31 lakh crore; But today the stock market recovered and the investors got a big relief as soon as there was an indication of the formation of the BJP-led NDA government at the Centre.