Tremendous momentum has been seen in India's stock market indices since morning. On Monday, February 9, momentum was visible in Sensex, Nifty and Bank Nifty right from the market opening. Sensex was also seen crossing the 500-point mark.
Around 11 AM on this day, the Sensex had risen by around 510 points to stand near 84,082 points. At the same time, the Nifty 50 index had risen by about 170 points to stand close to 25,860 points. Massive momentum was also seen in Bank Nifty. Around 11 AM, Bank Nifty had risen by nearly 550 points to stand around 60,653 points.
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SBI's stock price has been jumping since Monday morning. Upward momentum was seen in SBI's stock right after the third quarter results were released. Momentum was seen since morning in multiple PSU bank, realty and defence sector stocks. After the third quarter results announcement, Kalyan Jewellers' stock price jumped, rising 10 per cent to hit the upper circuit.
By 11:30 AM on this day, all sectors of Nifty were in the 'green' except FMCG. The highest growth was seen in Nifty PSU Bank, Nifty Media, Realty, Metal, and Pharma sectors, which gained more than 1 per cent.
Momentum was also seen in stock markets elsewhere in the world. Experts believe that India's stock market has also seen growth following the overall momentum in other indices.
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Additionally, momentum was seen in India's stock market amid discussions of India-US trade agreement talks. It is believed that sectors are gaining momentum one by one in hopes that the economy will gain pace from tariff reductions to changes in the energy sector and economic growth.
SBI's third-quarter results showed that this bank's profit figures exceeded targets. This impact was reflected in the stock price.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
