Sensex jumps 900 points with PSU banks and Adani Group stocks taking the lead
Mumbai: The Sensex surged by 900 points on Friday and the Nifty came close to reaching the 17,600 mark, following positive global and domestic cues. This boost in the stock market resulted in investors gaining approximately Rs 3.4 lakh crore, ET reported.
There was an increase in buying activity across various sectors and market segments. In particular, Public Sector Undertaking (PSU) banks and Adani Group stocks experienced significant gains and are led the upward trend.
PSU banks are government-owned banks in India, and their stocks are often seen as a bellwether of the Indian economy. When PSU bank stocks rise, it is generally seen as a positive sign for the economy.
Overall, the increase in buying activity suggests that investors are optimistic about the prospects for these sectors and companies.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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