There is a rise in the stock market today i.e. on 3rd July. Sensex is trading at the level of 78,150 with a rise of 650 points. There is an increase of 200 points in Nifty. It is trading at the level of 24,350. There is maximum buying in IT and metal shares. Major reasons for the rise in stock market: 1. Fear of increasing interest rates in America has reduced. Job growth in America in the month of June has been much less than expected. The figures for the first two months have also been reduced. This indicates that the American labor market is now cooling down. Experts believe that now the Federal Reserve (Fed) will not increase interest rates in a hurry. Lower rates increase investment by foreign funds (FIIs) in emerging markets like India. 2. Strong buying in IT and banking stocks Indian IT companies bring a major part of their earnings from the American market. The IT index rose 1.9% on expectations of no interest rate hike and led the rise. Crude oil prices have come down to pre-war levels, which is a big relief for India. Also, the market got support from the strength of banking stocks and good response of foreign investors (HNIs) to the FCNR (B) scheme. 3. Good signals from the global market: American tech stocks showed excellent recovery after two days of decline. After this, there was all-round greenery in Asian markets today. South Korea’s Kospi index jumped 3%. Samsung shares rose by 6.5% amid reports of making AI chips, which improved the sentiment in the entire Asian market. There was a rise in the Asian markets yesterday. Foreign investors sold shares worth Rs 14,588 crore in 7 days. Note: Net buying/selling figures of FIIs and DIIs are in crores of rupees. There was a rise of 579 points in Sensex yesterday and there was a rise in the stock market on 2nd July. Sensex closed at 77,502 with a gain of 579 points. There was a gain of 170 points in Nifty. It closed at 24,176.
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Sensex rises 650 points to 78,150: Nifty also rises by 200 points; Maximum buying in IT and metal shares
