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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Why stock market is up today: 4 key factors behind today's rally; Sensex surges 650 pts, Nifty above 23,350
The BSE Sensex climbed 665 points, or 0.87%, to 77,013, while the Nifty50 advanced 196 points, or 0.85%, to 23,387 as of 12:20 pm. The Nifty has risen in each of the previous four sessions, marking its longest daily winning streak in about seven weeks. Including Friday's gains, it is now up by about 4% this week, on track for its best week since July 2022.
All 13 major sectors posted gains. IT stocks, which fell over 2% at the open after Accenture flagged a slowdown in U.S. discretionary spending, reversed losses and traded 0.4% higher.
The total market capitalization of all BSE-listed companies jumped by Rs 4.31 lakh crore to Rs 412.92 lakh crore.
Why is the stock market rising today?
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1) FIIs Return to D-Street
After months of persistent selling, Foreign Portfolio Investors (FPIs) have turned buyers in two of the last four sessions, boosting market sentiment. On March 20, FPIs purchased Rs 3,239 crore worth of equities, signaling a shift in their stance.
«The rally in the market this week, which saw the Nifty rise by 3.5%, has come at a time when trade tensions are escalating, and more is expected when the reciprocal tariffs kick in on April 2nd. The main driver of the rally is the buying by FIIs in the cash market over two days and, perhaps more importantly, a sharp decline in their short positions and an increase in long positions in the futures market,» said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
2) Fed Signals Two Rate Cuts in 2025
The US Federal
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