Indian markets rallied at higher extents on Friday with the Sensex rallied over 428 points to break the crucial 41K-mark, while the Nifty also quoted above 12086 points. Experts analyses that the following three chief reasons there were behind the stock rise.
1. US-China Trade comes Near Trade Deal: There have been signs that the ongoing trade worries between the US and China has come to an end. It has been reported that Donald Trump has given the green signal to a deal between the two countries. The move positively weighed in global equity market sentiments, which also impacted in Indian benchmark indices. Mainly, Metal stocks advanced today amid sound footing on US-China trade deal hopes. The equities across the US & Japan have also rallied.
2. U.K Poll results: The ruling Conservative Party-led Boris Johnson was once again elected with the whooping majority in the elections in Britain. This has paved the door-steps for the Brexit deal ending and also fueled a rally in the domestic markets today.
3. Rally in Asian Markets: The Asian markets were also substantially high in the wake of the trade deadline. The Nikkei&HongKong index gained nearly 2.5-pc. This has made another positive impact in the Indian markets.To get Best stock Tips and stock-market-today updates visit our website.
Shares of those companies earning through considerable revenues from the UK such as TataSteel, TataMotors and the like, were on buying support. Major stock impact was seen in Tata Motors which scaled intraday higher to Rs183.95 and closed with 2% gains to quote share price at Rs.176.80-per unit on the NSE against its previous close of Rs173.35. Shares in Tata Steel also advanced at Rs430-per unit, up by 2.27% higher against its previous close of Rs418.70 today.