Stock Market Today Live Updates: Sensex and Nifty Take a U-turn, Surging to New Highs
In a surprising turn of events, the Indian stock market took a U-turn today, with the Sensex soaring 611 points from the day’s low and the Nifty hitting 22,500. This sudden rally was led by blue-chip stocks and sectoral indices, propelling the Sensex to 74,070.84 and the Nifty to 22,502.15.
Investors were thrilled as the stock market rose 2% on a weekly scale, allowing them to earn nearly ₹14 lakh crore. This positive momentum was reflected in the performance of key stocks like HPCL, BPCL, and IOC, which saw a decline of 9-15% from their 52-week highs due to soft Q4 results.
On the other hand, multibagger stocks like Kirloskar Brothers and PFC continued to shine, with Kirloskar Brothers gaining 110% in less than 5 months and PFC almost tripling investor wealth in 1 year. Experts weighed in on whether these stocks are still a buy after their impressive performance.
In the IPO space, Quest Laboratories IPO saw strong demand, with the issue subscribed over 31 times on the last day. Similarly, HOAC Foods IPO witnessed over 126 times subscription, indicating strong investor interest in the SME segment.
Overall, the stock market today showcased a mix of ups and downs, with small stocks racing ahead but also carrying risks. Investors were advised to adopt key investment strategies amid market volatility, especially with the Lok Sabha elections looming on the horizon.
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