The announcement of capital infusion of 2.11 lakh crore in government banks has shown its effect. Both the Sensex and Nifty are open at the highest levels today. The Sensex crossed the 33,000-point mark for the first time. The Nifty also reached a high of 10,340 points till now.
Announcement By Finance Minister Arun Jaitley
Most noteworthy that Finance Minister Arun Jaitley had made an announcement yesterday. He said that due to the problem of trapped debt, the government will put in Rs 2.11 lakh crore capital. The purpose of this is to re-capitalize the government-run banks. At the same time, he also announced to spend Rs 6.92 lakh crore on infrastructure development. Brokers believe that due to this, there was a sharp drift in the market. Moreover the stock market remained bullish in the initial trading.
Sensex and Nifty both on historical records
Sensex based on the 30-shares of the Bombay Stock Exchange opened at an all-time high of 33,117.33 points. This meant that it got a rise of 509.99 points. Earlier, on October 17, during the day, it went on a high level of 32,699.86 points.
In the previous two sessions, the Sensex has seen an increase of 224.41 points. Similarly, based on the 50-shares of National Stock Exchange of Nifty, Nifty is up 132.85 points, which is 1.30% higher than ever. It has reached on the new high of 10,340.55 points. Earlier, on 17th October, it reached a high of 10,251.85 points during the business day.
The share of State Bank of India was up 19.47 per cent during this rise. On the other hand, private sector ICICI Bank and Axis Bank saw an increase of 8 percent. Stocks of companies like L & T, NHPC, HCC NCC, which are associated with Infrastructure Sector, have seen a sharp rise.