Stock Market Update Today: Strong recovery is being seen in the domestic stock market today. In today’s trading, there is a great rise in Sensex and Nifty. The Sensex is up by about 550 points. Whereas Nifty has crossed 15850. The US Fed has increased interest rates by 0.75 percent to control inflation. At the same time, there are indications that the central bank is fully focused on reducing inflation and rates may again increase by 0.75 percent in July.
This created a sentiment that the government is serious about inflation. After which there is a boom in the global market. At present, the Sensex is up by 575 points and is trading at the level of 53117. Whereas Nifty is up by 158 points and it is trading at the level of 15850.
In today’s business, there is good buying in bank, financial and IT stocks. All three indices on Nifty have gained more than 1 per cent. Other major indices including Auto, Pharma, Metal, FMCG and Realty are also in the green. Good buy in heavyweight stocks. 26 shares of Sensex 30 are trading in green mark. Today’s top gainers include RELIANCE, MARUTI, BAJFINANCE, ICICIBANK, ITC, SBIN, INFY and TITAN.
The country’s largest state-run bank SBI has increased the minimum interest rates for home loans to 7.55 percent, which is applicable from Wednesday. The bank has taken this step after the Reserve Bank (RBI) hiked the repo rate by 50 basis points last week. In May also, RBI had increased the repo rate by 40 basis points.
Nalanda India Equity Fund has purchased 6.55 lakh equity shares in Jyothy Labs through open market transaction on June 14. With this, its stake in the company increased to 5.06 percent, from 4.88 percent earlier.