Sensex Jumps 351 Points, Nifty Above 19,750

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Sensex Jumps 351 Points, Nifty Above 19,750

The Indian stock market closed on a positive note on Thursday, with the Sensex jumping 351 points to close at 66,707.20, while the Nifty rose 97.70 points to 19,778.30.

The gains were broad-based, with all 30 Sensex stocks closing in the green. The biggest gainers were Tech Mahindra, Tata Steel, and NTPC.

The market sentiment was boosted by positive global cues, as European and US stock markets were also trading higher. Investors were also encouraged by the recent data showing that India’s economy grew at a faster-than-expected pace in the first quarter of the current fiscal year.

However, some analysts warned that the recent gains in the stock market could be capped by concerns over rising inflation and interest rates.

“The market is likely to remain volatile in the near term, as investors will be closely monitoring the developments on the inflation and interest rate front,” said Siddhartha Khemka, head of research at Motilal Oswal Financial Services.

Despite the volatility, analysts believe that the long-term outlook for the Indian stock market remains positive. They point to the country’s strong economic fundamentals and the potential for strong corporate earnings growth.

“The Indian stock market is still attractively valued, and we believe that there is still scope for further gains in the long term,” said Nilesh Shah, managing director of Kotak Mahindra Asset Management.

The Sensex and Nifty closed on a positive note on Thursday, with the Sensex jumping 351 points and the Nifty rising 97.70 points. The gains were broad-based, with all 30 Sensex stocks closing in the green. The market sentiment was boosted by positive global cues and the recent data showing that India’s economy grew at a faster-than-expected pace in the first quarter of the current fiscal year. However, some analysts warned that the recent gains in the stock market could be capped by concerns over rising inflation and interest rates. Despite the volatility, analysts believe that the long-term outlook for the Indian stock market remains positive. They point to the country’s strong economic fundamentals and the potential for strong corporate earnings growth.

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