Stock Market Today 4 October 2022: Indian stocks rose 2 per cent on Tuesday, led by gains in banks and metal companies in line with a jump in global equities. The uptrend in the market has been enhanced by the upbeat quarterly updates from the companies. Asian stocks jumped today after Britain scrapped parts of a controversial tax cut plan, improving global market sentiment and buoyed bonds and the pound.
The bulls continue to dominate Dalal Street amid strong sentiment overseas. Benchmark Frontline Index NSE Nifty-50 is trading more than 300 points to trade above 17,200 level and S&P BSE Sensex is up over 1000 points to trade at 57,915 level. A positive sentiment was visible in the broader markets as well, with Nifty Midcap 100 and Nifty Smallcap 100 rising over 1 per cent each. All sectors opened in the green mark. Nifty Metal and Nifty PSU Bank indices have led the rally with gains of 2 to 3 per cent.
All the 30 constituents of S&P BSE Sensex have started trading in positive territory. IndusInd Bank, L&T, Bajaj Twins, Tata Steel contributed to the sharp gains in the benchmark. The Nifty Metal index rose 2.6 per cent, while the Bank index rose 2.7 per cent. IndusInd Bank shares rose 5.7 per cent. Shares of Mahindra & Mahindra Financial Services rose 10 per cent.
Global markets, especially the US, closed in the green on Monday. Indices such as the Dow Jones, S&P 500 and Nasdaq closed between 2-2.5 per cent higher. Similarly, Asian indices were also trading positive with Japan’s Nikkei rising over 2.5 per cent in Tuesday’s morning trade.