Nifty crosses 26,000 mark and Sensex opens 700 points up, know why stock market is rising today

Stock Market Update: On Thursday, the NSE (National Stock Exchange) Nifty gapped up because of the optimism rebound of earnings in the Q2, i.e., the second quarter of the fiscal year. This makes the r

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Stock Market Update: On Thursday, the NSE (National Stock Exchange) Nifty gapped up because of the optimism rebound of earnings in the Q2, i.e., the second quarter of the fiscal year. This makes the return of foreign portfolio investments anticipatory to take the market index to a new high-level record. In addition, the BSE (Bombay Stock Exchange) Sensex started at about 734.36, which is 0.7% extra to 85,160.70. On the other hand, the NSE Nifty increased to 198.3 points for trade above the mark of 26,000 in the opening trade. 

Why is the stock market rising today?

The President of the United States mentioned that he had a conversation with the Prime Minister of India regarding trade Narendra Modi, on Tuesday. He further stated that energy too was a part of the talks and that the Indian Prime Minister mentioned limiting its oil business from Russia. 

The Chief Investment Strategist of Geojit Investments Limited, V K Vijayakumar, said that there are some reports of a trade deal between India and the US in the market, and the reaction through Nifty implied open confirms it. As per a report by Mint, the deal may reduce tariffs on Indian goods to almost 15 to 16%.

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