Sensex rises for fourth straight day thanks to easing of global trade war tensions
The stock market enjoyed gains for the fourth day in a row. The Nifty closed above 10,400 levels for the first time since 14 March this year.
This was because global stocks were positive after statements from China calmed down global trade war tensions.
The BSE Sensex rose 91.71 points to 33,880.25. The NSE Nifty gained 22.90 points at 10,402.30. This was mostly driven by ICICI Bank, Axis Bank, and metals stocks.
Global markets were higher on hopes that the trade war between China and the United States, which are the world's largest economies, will be resolved soon. This is after Chinese President Xi Jinping's comments on measures planned to further open up the Chinese economy.
Axis Bank was the biggest gainer among Nifty50 stocks, rising 5.2%. This is after the board of directors accepted the request from ICICI MD and CEO Shikha Sharma to reduce her term at the helm.