Investors witnessed a positive turn in the Indian stock market on May 10, with significant gains noted in the early trading hours. This resurgence follows a period of considerable decline experienced by the market in the previous session.
Sensex, Nifty Surge
Today, on Friday, the Indian stock market once again embarked on a bullish trajectory, with the Sensex soaring by 72,525 points and the Nifty reaching the 22,008 mark. The market’s robust performance can be attributed to several factors, including a significant shift witnessed yesterday when the market experienced a sudden downturn. Experts speculate that this volatility is indicative of a pre-election market sentiment. However, some stocks witnessed a decline during the initial trading hours today.
Sensex Registers Approximately 121 Points Increase
Prior to today’s surge, the market also witnessed a promising start on May 9, only to end the day with significant losses. Today, during the initial trading hours, the Sensex recorded an increase of approximately 121 points, reaching the level of 72,525.
Nifty, which opened at 22,008 during today’s trading session, also showed signs of positivity. Out of the 30 stocks comprising the Sensex, 19 witnessed an upward trend, while 11 registered a decline.
Top Gainers and Losers
Among the top gainers in the market were BPCL, NTPC, Power Grid, Tata Motors, Coal India, Hero MotoCorp, and ONGC. Additionally, Larsen & Toubro, Bharat Electronics, Bata India, Allcargo Logistics, and IndusInd Bank also witnessed significant gains. Conversely, weakness was observed in stocks of Infosys, Britannia, HDFC Bank, LTI Mindtree, Tech Mahindra, Asian Paints, and HCL Tech.
According to market reports, the Nifty IT index opened in the green during the initial trading hours, while the bank index also witnessed a surge today.
The Indian stock market’s resurgence signifies renewed investor confidence and optimism, as market participants navigate through periods of volatility and uncertainty. As the trading day progresses, investors remain vigilant, closely monitoring market trends and developments for further insights into the market’s trajectory.