Trump’s statement on America-India trade deal storms stormy boom in the stock market, Nifty crosses 25,000

The Indian stock market closed with a huge increase in Thursday’s trading session. All -round purchases were seen in the market. At the end of the trading, the Sensex rose by 1,200 points or 1.48 percent to 82,530 and the Nifty gained 395 points or 1.60 percent to close at 25,062. The reason for the boom in the stock market is believed to be the statement of US President Donald Trump, in which he said that India is offering zero tariffs on American goods under the Trade Deal.

The market saw the trend of shopping in midcap and smallcap with largecap in the market. The Nifty Midcap 100 index rose by 394 points or 0.70 per cent to 56,530 and the Nifty Smallcap 100 index at 92 points or 0.54 per cent to 17,239.

LKP Securities, Senior Technical Analyst Roopak De said that the Nifty is likely to reach 25,690 levels after the consolidation breakout. In the event of a decline, 24,400 will be a strong support. Almost all the index of the Nifty closed in the green mark. Auto, IT, Financial Services, Pharma, Realty, Energy, Infra and Commodity were the most increased indexes.

The Sensex pack included Tata Motors, HCL Tech, Adani Ports, Eater (Zomato), Maruti Suzuki, Asian Paints, ICICI Bank, Bharti Airtel, UltraTech Cement, Sun Pharma, Tech Mahindra, Titan, M&M, Tata Steel and HDFC Bank Top Gainers. In BSE Benchmark only IndusInd Bank closed in red mark.

Apart from Trump’s statement, the decrease in crude oil prices was also the main reason for the stock market. In the international market, Brett crude fell by 3.5 percent to $ 63.86 per barrel. The stock market started in a red mark on Thursday. At 9:39 am, the Sensex was down 368 points or 0.45 percent to 80,962 and the Nifty was 98 points at 98 points or 0.40 percent to 24,568.

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