Stock market continues to surge; Nifty above 11,500 points

The stock market continues to rise. The Sensex was up 276 points and the Nifty 86 points on October 5.

The Sensex closed at 38,973 points. The day’s low was 38,819 points. It was the continuation of progress on October 1.

The Nifty rose again to 11,500 points and ended at that level. The wide-based National Stock Exchange Nifty rose to 11,578 points. Since then it has fallen to 11,452 but closed above 11,500.

The Indian market was also a reflection of the progress in the global market. IT and metal stocks led the gains on the day. The Nifty IT index was up 3.47 per cent. TCS is up 7.23 per cent. TCS will consider buying back the shares at its October 7 board meeting. The TCS board will meet on Wednesday ahead of the announcement of the July-September quarterly results. Following this news, the share price of TCS has risen by more than 7 per cent/

Most of the 50 stocks in the Nifty were gainers on the day. Thirty stocks gained while 20 stocks lost. TCS, Wipro, Tata Steel, Sun Pharma and JSW Steel were the top gainers. TCS and Wipro were up over 70 per cent.

Bajaj Finserv, Shree Cements, Bharti Airtel, Bajaj Finance and GAIL were the top five losers.