Due to fall in crude oil prices, the stock market saw a huge jump on Tuesday. Sensex and Nifty closed with gains of around one percent. The special thing is that the stock market has been rising for two consecutive days. Where Sensex has seen an increase of more than 1100 points. On the other hand, Nifty has seen a jump of more than 350 points.

The main reasons behind the upswing in the stock market were buying in banking stocks and rise in shares of Reliance Industries. Due to this surge, stock market investors on Tuesday bought Rs. 4.60 lakh crore and in two days Rs. 6.71 lakh crores profit has been made. Earlier, the stock market had seen a decline for 8 consecutive weeks. In such a situation, the ninth week has started very well. The stock market has seen a jump of about 1.5 percent in two days. Let us also tell you what kind of figures are being seen in the stock market.

Huge jump in Sensex

On Tuesday, Bombay Stock Exchange’s flagship index Sensex saw a tremendous surge. On Tuesday, the Sensex closed at 73,067.81 points with an increase of 685.34 points. While a day earlier the Sensex closed with an increase of 72,382.47 points. If we look at the Sensex data, an increase of 1,158.11 points has been seen in two days. On Thursday, October 1, the Sensex closed down 71,909.70 points. If the experts are to be believed, the Sensex may see a further rise in the coming days.

Nifty also rose

On the other hand, Nifty, the main index of the National Stock Exchange, also saw a good rise. Looking at the data, the Nifty closed at 22,776.10 points with an increase of 220.35 points on Tuesday. While a day earlier Nifty closed with an increase of 22,555.75 points. However, Nifty has seen an increase of 354.15 points in two trading days. On Thursday, October 1, the Nifty closed at 22,421.95 points. According to experts, buying is seen in Nifty due to fall in valuation. In such a situation, further increase in Nifty can be seen in the coming days.

Why did the stock market soar?

Among the 30 companies in the Sensex, Trent’s shares rose the most at 12.78%. Kotak Mahindra Bank, Hindustan Unilever, Reliance Industries, InterGlobe Aviation, Eternal and Asian Paints were also among the beneficiaries. Shares of Tech Mahindra, Titan, Bajaj Finance and ITC declined. Global oil benchmark Brent crude fell 1.70% to $98.59 a barrel. Ponmudi R, CEO of online trading and wealth tech firm ‘Enrich Money’, said the Indian stock market was bullish for the second straight day on Tuesday and benchmark indices closed higher. A further decline in crude oil prices eased macro-economic pressures, which supported market sentiment.

Foreign market data

In Asian markets, Japan’s Nikkei 225 index and Hang Seng index closed higher, while South Korea’s Kospi index ended lower. European markets were trading with bullishness. American markets also closed higher on Monday. According to exchange data, foreign institutional investors (FIIs) on Monday poured in Rs. 4,699.14 crore worth of shares were sold.

Investors Rs. 6.71 lakh crore had been invested

This surge in the stock market has led to a significant increase in the valuation of BSE. Investor earnings are also linked to this valuation. If we look at the figures, the market cap of BSE on October 1 was Rs. 4,66,96,636.17 crore, which on Tuesday increased to Rs. 4,73,68,128.89 crores. This means that in two days the BSE’s valuation has increased by Rs. 6.71 lakh crore has increased. While on Monday, the valuation of BSE was Rs 4,69,07,998.51 crore. That means the valuation of BSE has increased by Rs 4,60,130.38 crore on Tuesday.