Bumper rise in stock market, Sensex crosses 80 thousand

Domestic markets Sensex and Nifty increased early trade on Friday. Perfect India-US trade agreement, the record high GST collection in April and continuous flow of foreign capital strengthened the assumptions of investors. Apart from this, a strong trend in global markets also increased optimism in markets. The BSE Sensex rose 500.81 points to 80,743.05 in early trade while NSE Nifty gained 110.65 points to 24,444.85 points. Later, the Sensex rose by 816.41 points to 81,064.47 and the Nifty climbed 222.30 points to trade at 24,556.50.

Shares of Adani Ports boom

Among the 30 companies included in the Sensex, the shares of Adani Ports rose by nearly five percent. Maruti, IndusInd Bank, Axis Bank, ICICI Bank, Internal and Mahindra & Mahindra were also in profit. At the same time, shares of Nestle, Titan, Bajaj Finserv and Hindustan Unilever were in loss. Shanghai SSE Composite was in loss in Asian markets, while South Korea’s Cappey, Japan’s Nikki 225 and Hong Kong’s Hangseng were in profit.

The US markets closed with a positive attitude on Thursday. International standard Brent crude was at a price of $ 62.56 per barrel with an increase of 0.69 centuries. According to the stock market data, foreign institutional investors (FIIs) were living on Wednesday and purely bought shares worth Rs 50.57 crore.

At the same time, the Goods and Services Tax (GST) collection increased by 12.6 percent on a annual basis in April to about Rs 2.37 lakh crore. This reflects strong economic activities and matching of companies in late March. It was informed in the data released on Thursday.