The stock markets rose for the third consecutive day, the Sensex rose 224 points – sensex rises 224 points for the third consecutive day in the stock markets

Mumbai, May 29 (Language) Continuation of growth in the stock markets continued for the third consecutive day on Friday. The market gained momentum due to a rise in the share of FMCG, financial and banking companies, despite a rise in the case of Kovid-19 and a weak trend in the global markets. Investors are hoping that the lockdown rules will be relaxed further in the country next week. However, he remained cautious ahead of the fourth quarter gross domestic product (GDP) growth data. The figures were released after the market closed according to which the last quarter of the last financial year was January-March

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Language | Updated: 29 May 2020, 06:20:00 PM IST

Mumbai, May 29 (Language) Continuation of growth in the stock markets continued for the third consecutive day on Friday. The market gained momentum due to a rise in the share of FMCG, financial and banking companies, despite a rise in the case of Kovid-19 and a weak trend in the global markets. Investors are hoping that the lockdown rules will be relaxed further in the country next week. However, he remained cautious ahead of the fourth quarter gross domestic product (GDP) growth data. The data was released after the market closed, according to which the GDP growth rate in the last quarter of January-March of the last financial year was just three decimal one percent and the growth rate of the entire financial year was four decimal two percent. The 30-share BSE Sensex gained 223.51 points, or 0.69 per cent, to 32,424.10. The market gained momentum in the afternoon after opening weak in early trade and closed with a profit. Similarly, the National Stock Exchange's Nifty gained 90.20 points or 0.95 percent to close at 9,580.30 points. It ranged from 9,598.85 to 9,376.90 points during trading. The Sensex gained 1,751.51 points on a weekly basis. At the same time, the Nifty also ended with a gain of 90.20 points or 5.71 percent on a weekly basis. Among the Sensex companies, ONGC gained the most by 5.2 per cent. Shares of Bajaj Auto, ITC, Sun Pharma, Nestle India, L&T and Hero MotoCorp also gained. On the other hand, shares of Infosys, Axis Bank, Bharti Airtel, TCS and Titan were down by 2.25 per cent. Analysts said apart from activities in certain stocks, the flow of foreign funds also boosted confidence of domestic investors. Deepak Jasani, head of retail research at HDFC Securities, said, “The Indian markets have once again performed against the global markets.” Jasani said the oil and gas, materials and engineering stocks performed well. There was a large number of transactions in the shares of these companies, but it did not show much impact in the market. This implies that there was a transaction of shares between two institutions. BSE Midcap and Smallcap gained up to 1.90 percent. Growing tensions between the US-China led to a decline in global markets. President Donald Trump may soon respond to China's security legislation for Hong Kong. Foreign portfolio investors bought shares worth Rs 2,354.14 crore on Thursday, according to provisional data from the stock exchanges. The rupee rose 14 paise to 75.62 per dollar in the interbank foreign exchange market. Hangseng in Hong Kong and Nikki in Japan declined in other Asian markets. China's Shanghai Composite and South Korea's Cospi were in profit. European markets were at a loss in early trade. International benchmark Brent crude oil futures fell 2.33 percent to $ 35.19 a barrel. The country has the highest number of 7,466 corona virus cases in a single day. Due to this, Indian markets were volatile. Covid-19 cases in the country have crossed 1.65 lakh. So far, the epidemic has killed 4,706 people. Globally, the number of corona virus infections has increased to 58.10 lakh. This epidemic has killed 3.60 lakh people worldwide.

Web title sensex rises 224 points for the third consecutive day in the stock markets(Hindi News from Navbharat Times , TIL Network)

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