Last Updated: October 18, 2022, 12:31 IST
Why is the market rising today?
Why Market is Rising Today? The key benchmark indices posted some handsome gains in the early session on October 18 on the back of strong global cues. Sensex jumped over 700 points on Tuesday amid positive global cues. The market capitalisation of all listed companies on BSE jumped over Rs 2.22 lakh crore to Rs 273.96 lakh crore.
Both the Sensex and the Nifty stayed in the green for the second straight session today. Among the sectors, auto, capital goods, FMCG, IT and power indices added a per cent each, while the midcap and smallcap indices added half a per cent each.
“In India bulls are gaining strength aided by India’s growth outperformance, good early Q2 results, declining FII selling, steadily rising DII buying and the optimism ushered in by the festive season. Bank Nifty is resilient with the potential to take banking stocks as well as Nifty higher,” said Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
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