Sensex bomb after ceasefire, investors coddled 16 lakh crores in 1 day

The total market capitalization of all the companies listed in BSE increased from Rs 416.52 lakh crore to Rs 432.47 lakh crore in the previous session (May 9), with which an increase of Rs 16 lakh crore was recorded in a single day. According to analysts, the market started the week firmly due to favorable global and domestic signals.

Ajit Mishra, Senior Vice President (Research), Railor’s Broking Limited, said, “All major areas contributed to the rapidly, in which IT, reality and metal were at the forefront. The broad markets also showed this strength, each of which recorded a growth of about 4 percent.

Lack of geopolitical concerns and progress in global trade talks gave great relief to the markets, which showed the impact as a sharp decline in the India VIX instability index.

He said that technically, the rapid increase in Nifty indicates to continue the fast trend after a three -week consolidation phase.

After crossing the previous swing high of 24,857, the index is now moving towards a level of 25,200, while there is expected to get strong support on any fall between 24,400 and 24,600.

(This news has not been edited by the NDTV team. It has been published directly from the syndicate feed.)