Mumbai8 minutes ago
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After the announcement of 2-week ceasefire between America and Iran, there is a rise in the stock market today i.e. on Wednesday, April 8. Sensex is trading at 77,200, up 2600 points (3.50%). Nifty is also up by 750 points (3.24%), it has reached 23,900.
Today there is more buying in auto, realty and banking stocks. Nifty Auto and Realty indices are up about 5%. The index of government banks and metal index are also up by more than 3%. FMCG and Oil & Gas indices are trading more than 2% higher.
Out of 30 Sensex stocks, 28 are rising and 2 are declining.
2 weeks ceasefire is the reason for the rise in the market
The war that has been going on for 40 days between America and Iran has been put on pause for 2 weeks. Both the countries have agreed to this ceasefire after the mediation of Pakistan-China.
Under the agreement, America, Israel and Iran will stop attacks on each other, and with the help of the Iranian army, safe movement of ships through the Strait of Hormuz will be ensured.
Earlier, the US President had warned of destroying Iran. He had said that if a way was not found through the Strait of Hormuz, he would destroy the entire civilization of Iran.
Asian market also booming
- South Korea’s Kospi index has climbed 6.35% to 5,843.
- Japan’s Nikkei is trading at 56,166, up 5.12%%.
- Hong Kong’s Hang Seng index is up 2.85% at 25,832.
- China’s Shanghai Composite rose 1.92% to 3,964.
Mixed business in American market on April 7
- The Dow Jones fell 85 points (0.18%) to close at 46,548.
- Tech-based index Nasdaq Composite rose 0.098% to close at 22,017.
- The S&P 500 index rose 5 points (0.076%) to close at 6,616.
Crude fell 13% to $ 95 per barrel
Today crude oil is down 13%. Brent crude has fallen to $ 95 per barrel. Before the war between America and Iran started on February 28, crude oil was around $ 70 per barrel. Then it increased to $ 120 per barrel.
Sensex closed yesterday with a gain of 510 points
The stock market was rising for the fourth consecutive day yesterday, April 7. Sensex closed at 74,617, up 510 points. Nifty also gained 155 points and closed at 23,124. Today there was more buying in IT, metal and realty shares.
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