Huge Boom in the Stock Market: Sensex and Nifty Rise
The share market closed with a boom today, with the Sensex gaining about 466.95 points to close at a level of 63384.58 points, and the Nifty closing at 18826.00 points with a gain of 137.90 points. Out of the 3,656 companies traded on the BSE today, about 2,123 shares closed with gains, and 1,412 shares with a decline. Additionally, 207 stocks closed at the upper level of 52 weeks, while 19 stocks closed at their 52-week low. In terms of individual companies, shares of HDFC Life, SBI Life, and Dr Reddy Labs closed with gains, while Wipro, Bajaj Auto, and TCS shares closed with losses.
Understanding the Sensex and Nifty
The Sensex is an index of the Mumbai Stock Exchange (BSE), consisting of 30 BSE companies. The base year of Sensex is 1978-79, and it is calculated on the basis of free float market capitalization-weighting methodology. Similarly, the Nifty is the flagship index of the National Stock Exchange (NSE), consisting of the top 50 companies of the NSE. The base year of Nifty is 1995, and it is also calculated on the basis of free float market capitalization-weighting methodology.
How to Buy Shares from the Share Market
To invest in the stock market, one must first open a demat and trading account with a stockbroker, as shares cannot be bought directly from the stock exchange. PAN, Aadhaar, and a bank account are required to open a demat and trading account, and an account with a broker can be opened easily if these documents are available.
Overall, the stock market has shown positive growth today, with gains seen in both the Sensex and Nifty indices. Investors looking to invest in the stock market should consider opening a demat and trading account with a stockbroker to begin trading.
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