In a noteworthy turn of events, the Indian share market is witnessing a significant upswing today, March 13. Reports indicate that the Sensex has soared by a whopping 326 points during early trading, initiating business at the level of 73,993. Simultaneously, Nifty has marked a substantial rise with a surge of 97 points, commencing trading at the level of 22,432.
Early Market Trends
The Indian stock market commenced the day with robust investment activities, as reflected in the initial trading sessions. The Sensex’s impressive jump of 326 points at the outset set the tone for a dynamic day, initiating trading at 73,993. Among the 30 shares constituting the Sensex, 17 are exhibiting positive momentum, while 13 are registering a decline. Jet Airways, in particular, is grabbing attention by hitting a consecutive 5% upper circuit, with its shares trading at INR 45.20, reflecting a gain of 5.00%.
Top Gainers and Losers
Top gainers during today’s market surge include IT giants like TCS, Wipro, HCL Tech, and HDFC Life, along with TCS, LTTS, Mindtree, and SBI Life. On the flip side, several prominent shares are displaying weakness, including Power Grid, NTPC, Bharti Airtel, HUL, Coal India, UltraTech Cement, and ONGC.
Expert Opinions and Block Deals
Market experts anticipate a block deal in the shares of IT companies, particularly a speculated deal in IT giant TCS at INR 404.40 per share. Notably, this anticipation is linked to the British American Tobacco Company selling a 3.5% stake in the company. Experts suggest that short-term pressure may impact IT stocks due to this development, with the possibility of the share price reaching levels around INR 500.
Recap of Yesterday’s Market Performance
It’s worth noting that the Indian share market exhibited bullish momentum yesterday, March 12, with the Sensex gaining 165 points and closing at 73,667. Similarly, Nifty showed a 3-point surge, concluding the day’s business at 22,335.
The consecutive days of market positivity point towards a renewed investor confidence, potentially indicating a sustained upward trend. As the market continues to unfold, investors and experts keenly watch for further developments and potential opportunities.