DelhiDesk The Indian stock market experienced a surge on May 8 due to buyers accumulating stocks, particularly in the realty, banking, and auto sectors, as chances of another rate hike in the US are deemed slim and bond yields have eased. The Nifty Index rose by 1.08%, while the BSE Sensex climbed by 1.16%. Vinod Nair of Geojit Financial Services noted that confidence in Indian stocks has increased due to strong domestic results and robust employment data, attracting more foreign funds into the domestic market. Stocks in IndusInd Bank, Tata Motors, Bajaj Finance, and Bajaj Finserv saw gains, while Nifty Auto, Nifty Realty, and Nifty Bank experienced a boom. The Nifty Midcap 100 index rose by 1.02%, while the Nifty Smallcap 100 index rose by 0.94%.
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👉 Buyers started accumulating stocks, leading to a boom in the market on May 8.
👉 Realty, Banking & Auto were the sectors with the most accumulated stocks.
👉 Data showed that the chances of another rate hike in the US are slim.
👉 Nifty index rose 195.40 points, or 1.08 percent, to 18,264.40.
👉 Vinod Nair of Geojit Financial Services stated that confidence in Indian stocks has increased.
👉 IndusInd Bank topped nifty stocks with a gain of 5 percent.
👉 Nifty Auto was the top gainer among sectoral metrics, followed by Nifty Realty and Nifty Bank.
👉 The Nifty Midcap 100 and Nifty Smallcap 100 indices also saw buying.
👉 Shrikant Chauhan of Kotak Securities has a bullish view on Nifty.
👉 Kunal Shah of LKP Securities stated that the NIFTY index is being controlled by the bulls.
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