Share Market News / There was a rain of money during the Iran-Israel war, the market was looted in 76 minutes

Share Market News: While the possibility of war between two Middle East countries—Iran and Israel—has increased tension in the global markets, on the other hand, the Indian stock market filled investors' pockets with happiness on Friday. On the last day of the trading week, the market showed tremendous growth in just 76 minutes and earned crores of rupees.

Record breaking speed

The BSE Sensex jumped 750 points in a short time after a flat start and touched the level of 81,651.30. The NSE Nifty was also not behind and crossed the historic 25,000 mark. Despite global uncertainty and tension in the Middle East, the tremendous participation of Indian investors pushed the market upwards.

Which sectors showed strong moves?

Talking about sectoral indices, Nifty Realty shone the most with a gain of 1.40%. After that, PSU Bank saw a jump of 1.11%. Midcap 100, energy, metal, infrastructure, auto, FMCG and banking sectors also saw a slight rise. Smallcap 100 gained 0.50% and pharma and private bank index gained marginally. At the same time, the IT index remained almost stable and closed with a marginal gain of 0.05%.

Decreasing uncertainty: VIX declines

India VIX, which is an indicator of market volatility, fell 4.42% to 13.63. This simply means that the panic of investors in the market is decreasing and the expectation of stability is increasing.

Government companies benefit from RBI's decision

Shares of government project finance companies like IREDA, PFC, REC, HUDCO and IRFC saw a rise of up to 4%. This jump came due to RBI's new rules related to project finance. RBI has increased the general provisioning on banks for commercial real estate to 1.25%, while it has been fixed at 1% for residential housing and other projects.

Differences in Maran family: Setback to Sun TV

In this bullish environment, a negative news also came. Sun TV shares fell by 4%. The reason was the mutual dispute in the promoter family of the company. Dayanidhi Maran has sent a legal notice to his brother and chairman Kalanithi Maran, accusing him of fraud. This shook the confidence of investors in the company.

Which stocks made profits?

Among the companies included in the Sensex, Mahindra & Mahindra, Eternal (formerly Zomato), SBI, UltraTech Cement, Bajaj Finserv and Maruti gave the most profit. On the other hand, IndusInd Bank, Bajaj Finance, Tech Mahindra and Kotak Mahindra Bank suffered losses.

Impact of global and crude oil

In Asian markets, South Korea's KOSPI, Japan's Nikkei 225, China's Shanghai Composite and Hong Kong's Hang Seng also remained in profit. On the other hand, US markets were closed on Thursday due to Juneteenth holiday. In the international market, Brent crude fell 2.45% to $ 76.92 per barrel, raising hopes of controlling inflation.

Heavy purchases by FIIs and DIIs

Foreign institutional investors (FIIs) bought shares worth Rs 934.62 crore on Thursday, while domestic investors (DIIs) bought shares worth Rs 605.97 crore. It is clear from this that the confidence of investors in the Indian market remains strong.