After a volatile day, Sensex rises 3%; metal, banking stocks shine

 

Mumbai: Benchmark indices, Sensex and Nifty, held steady in the afternoon session after opening on a firm note on Wednesday. BSE Sensex surged by 2082.16 pts or 2.89% to trade at 74,161.21 as of 2.35 pm, and Nifty 50 gained by 658.75 pts or 3.01% at 22,543.25.

On June 4, foreign institutional investors sold ₹12,436.22 crore worth of Indian equities, while domestic institutional investors sold ₹3,218.98 crore worth. The INDIAVIX rose by 28.46% and is currently trading at 19.14.

Given the unexpected election results, which diverged from exit polls, traders should employ strict stop losses due to anticipated continued market volatility. Kajaria Ceramics is identified as a stock to sell at ₹1,149.65.

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