Stock market surges for 10th day in a row

The stock market continued to rise. Despite the strong fluctuations, the market ended the day with gains. This is the tenth consecutive day of market gains. The Sensex was up 158 points and the Nifty 31.5 points.

Nifty fell to 11,822 points on October 14 morning, but later rose more than 150 points. It closed at 11,964 points. The Nifty was able to stay above 1,950 points. The stock had gained 11,997 points during the trading session.

The Sensex closed at 40,794 points. The Sensex fell to 40,279.5 points. It was up 40,880 points during the day.

Bank and financial services stocks were the top gainers of the day. Shares of private banks, NBFCs and life insurance companies gained. At the same time, IT stocks, which had been gaining in the past few days, have shown a weak performance on the day.

The majority of Nifty stocks traded higher on the day. Out of the 50 stocks in the Nifty, 26 stocks gained while 24 stocks lost. Bajaj Finserv, SBI Life, Bajaj Finance, IndusInd Bank and ICICI Bank were the top gainers. Bajaj Finserv rose 4.10 per cent. Shares of SBI Life, Bajaj Finance, IndusInd Bank and ICICI Bank gained over 2 per cent each.

Wipro, NTPC, ONGC, Coal India and Tata Motors were the top five losers in the Nifty. Wipro fell 7.06 per cent. Wipro’s quarterly results announced on Oct 13 fell short of market expectations. Shares of NTPC, ONGC, Coal India and Tata Motors fell more than 2 per cent.