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Mumbai Tremendous action is being seen in the Indian stock market on Thursday. After the initial ups and downs, by afternoon the ‘bulls’ i.e. buyers had completely taken over Dalal Street. Both Sensex and Nifty indices are trading near their all-time highs. By 1:45 pm, the Sensex has jumped by more than 1000 points and touched the level of 75,652, while the Nifty has also reached a historical high of 23,763 with a gain of 350 points.

Investors’ silver: increase of Rs 4 lakh crore

This ‘stormy boom’ in the market has made investors rich. In just a few hours of trading, an increase of more than Rs 4 lakh crore has been recorded in the wealth of investors. The market had started with gains in the morning, but after pressure was seen in the middle, buying in shares of Banking and Adani Group in the afternoon session completely changed the trend of the market.

These stocks took off: Adani and Airtel top gainers

Today’s boom is being led by big companies.

• Adani Enterprises: Reached close to Rs 2,654 with a gain of 6.25%.

• Bharti Airtel: Strengthening the market with a rise of 5.11%.

• HDFC Bank: A rise of 3.38% in the banking sector supported Nifty.

• Dr. Reddy: A gain of 2.85% was seen in this stock from Pharma sector.

Rupee at record low, still the market is afraid

On one hand, the stock market is making records, while on the other hand, the Indian Rupee (INR) has weakened against the dollar and reached its lowest ever level of 95.85 (Record Low). Rising tensions between the US and Iran and selling by foreign institutional investors (FIIs) have put pressure on the rupee. However, positive signals from the global market and confidence of domestic institutional buyers did not allow the market to fall.

These are the 3 big reasons behind the market boom

According to market experts, there are three main reasons behind today’s rally:

1. Global signal: There is hope among investors around the world regarding the meeting between US President Donald Trump and Chinese President Xi Jinping.

2. Strength in Asian markets: The rise in Japan’s Nikkei and South Korea’s Kospi boosted the enthusiasm of Indian investors.

3. Technical Breakout: Nifty has crossed the resistance levels of 23,500 and 23,600. Now experts believe that if Nifty closes above 24,000, a new mega-bullish trend could begin.