Indian stock markets saw a fantastic rally for the second consecutive day on Monday, May 26. The Sensex closed up 455 points, while the Nifty surged 148 points, crossing 25,000. IT and metal stocks saw the most buying action.
This is why the stock market jumped for the second day in a row
The stock market saw a significant rise on Monday, May 26. US President Donald Trump extended the deadline for imposing tariffs on the European Union, which improved global market sentiment.
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Good news on the domestic front also made the market mood
Along with this, India becoming the world's fourth largest economy and RBI's record dividend payment kept the stock market in a great mood.
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Market cap of BSE listed companies reached 444.81 lakh crore
BSE's midcap index closed up 0.56% and small cap index jumped 0.48%. On May 26, the total market cap of BSE listed companies reached Rs 444.81 lakh crore. On Friday, May 23, it was Rs 441.96 lakh crore.
Investors' wealth increased by 2.85 lakh crore in one stroke
Thus, on Monday, May 26, the total market cap of companies listed on BSE increased by about 2.85 lakh crore. That is, the assets of investors have increased by about 3 lakh crore rupees.
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22 out of 30 Sensex stocks closed in the green zone
22 out of 30 Sensex stocks closed in the green. During this, Mahindra & Mahindra's shares rose the most by 2.17%.
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8 BSE stocks closed in the red
Apart from this, 8 stocks of BSE Sensex closed in the red mark. The biggest decline was seen in Eternal's shares and it closed down 4.51%.
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How will the market move on May 27
According to experts, there is resistance at the level of 25000 for Nifty and 82300 for Sensex. A breakout above this could take Nifty above 25150 and Sensex above 82700.
