Before the election results, the stock market grew
Before the election results, the stock market grew

There was excitement among investors even before the results of the assembly elections in five states, including Uttar Pradesh. When the market opened on Thursday, buying started fiercely, and the Sensex jumped 1,600 points.

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The morning BSE trading session started with a big gain. The Sensex opened with a gain of 1,595 points at 56,242, while the Nifty opened with a gain of 412 points at 16,757. Investors began betting fiercely even in the early stages of the electoral vote-counting process. However, later investments seemed a bit cautious.

As of 9.28 am, the Sensex was trading 1,114 points higher at 55,761, while the Nifty was trading 313 points higher at 16,658. In the last two days, both exchanges have seen huge gains.

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Investors are betting big on this market

Investors continue to bet heavily on banking and auto stocks. As per Nifty, Tata Motors, Asian Paints, HUL, Axis Bank and SBI have seen the biggest gains. Shares of ONGC, Coal India, Hindalco, Tata Steel, and JSW Steel are trading down.

The impact of cheap crude

Brent crude prices have come down as fast as they went up. On the global market, the price of crude has fallen by 13.2 percent, or $ 16.84, to $ 111.14 a barrel. The price fall marked the biggest one-day decline in crude oil since April 2021. Crude oil also fell by $ 15.44 to $ 108.70 per barrel. Market sentiment has been profoundly affected by it.

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The Asian markets continue to rise

Today, most Asian markets are open on a razor’s edge. Singapore’s exchange has risen by 1.67 percent, while Japan’s Nikkei has risen by 3.39 percent. Taiwan’s stock market rose 2.17 percent and South Korea’s rose 2.04 percent. Similarly, China’s Shanghai Composite index opened with a gain of 1.71 percent.

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