A likely NDA win in theBihar exit polls boosted market sentiment. Maintaining political stability boosts investor confidence, say experts.
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Hopes for India-US Trade Deal Increase
US President Donald Trump stated that the 'trade deal with India is in its final stages.' This news boosted investor confidence and intensified buying from foreign investors.
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Hopes for an End to the US Shutdown
The US Senate has approved a deal that could end the longest government shutdown in history. This brought both relief and a rally to global markets.
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Positive Cues from Global Markets
Asian markets were varied yet robust. South Korean Kospi and Hong Kong Hang Seng were green. The Nikkei 225 and Shanghai Composite fell.
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Decline in Crude Oil Prices
Brent crude fell by 0.23% to USD 65.01 per barrel. A fall in oil prices is always a positive factor for importing countries like India.
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Strong Buying in IT Stocks
The Nifty IT index rose by about 2%. Shares of all 10 IT companies were in the green zone. The hope of the US shutdown ending boosted positive sentiment in the IT sector.
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Fall in VIX Boosts Confidence
India VIX, which measures market volatility, fell by 5.3% to 11.82. This clearly indicates that investor fear has decreased and stability is returning to the market.
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Disclaimer
This article offers generic information. Stock market investing is risky. Consult your financial advisor before buying any stock, index, or company.