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Sensex & nifty rise for second day as stocks recover
The Business Guardian
|May 15, 2024
Indian stock indices opened Imarginally higher on Tuesday, building on the positive momentum from the previous session's close. The uptick was primarily attributed to fresh buying activity following a recent dip in the market.
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As the opening bell rang at 9:19 AM, the Sensex stood at 72,979.48 points, up 203.34 points or 0.28 percent, while the Nifty was at 22,177.15 points, up 73.10 points or 0.33 percent. Most sectoral indices were trading in positive territory, with the exception of the Nifty pharma and Nifty healthcare indexes.
In the preceding week, the stock market had witnessed a consistent decline, which analysts attributed to several factors. These included the strength of the US dollar, uncertainties surrounding the outcome of the ongoing Lok Sabha elections amid a declining voter turnout trend observed in the voting phases, and profit booking following a recent rally.
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