Despite growing tensions in the Middle East region and between the US and Iran, Indian stock markets demonstrated significant growth. On Friday, the Sensex index traded at 77,543, showing a rise of 800 points or 1.04%. Simultaneously, Nifty increased by 250 points or 1.04%, reaching the mark of 24,212. The Nifty Bank sector observed a rise of 680 points.
BSE Stock Dynamics
Among the top 30 BSE stocks, all except Zomato and Bharti Airtel showed growth. TCS demonstrated the largest increase, rising by 3%. Adani Ports also showed a noticeable increase of 2.50%, Tata Steel by 2.37%, and Tech Mahindra shares by 2%. Furthermore, due to impressive quarterly results from TCS, shares of Infosys, HCL Tech, Wipro, and other IT companies also experienced growth.
Reasons for Market Growth
The market did not decline despite global tensions. Meanwhile, crude oil prices rose: Brent Crude Oil climbed by 0.45% to $76.64 per barrel. Although tensions were also observed in the Strait of Hormuz, this did not affect the market's stability.
Overall Trading Statistics
Out of a total of 3,970 traded stocks on BSE, 2,760 stocks showed significant growth, while 984 stocks fell. 226 stocks remained unchanged. It is worth noting that 110 stocks were trading at a fifty-two-week high, while 49 stocks were at a fifty-two-week low. As a result, 141 stocks hit the upper circuit, and 106 hit the lower circuit.
