Share Market 8 October: Sensex and Nifty rose on 8 October amid a weak trend in Asian markets. After falling for six consecutive sessions, Sensex and Nifty came back to life. Today, Sensex rose 584.81 points or 0.72 percent to close at 81,634.81 and Nifty rose 217.40 points or 0.88 percent to close at 25,013.20. Banking, oil and gas and auto sectors closed with gains. Meanwhile, the metal sector struggled to recover from the pressure and closed in the red on 8 October.

Trent, Adani Enterprises, Adani Ports, Bharat Electronics, and M&M were the top gainers on the Nifty, while Tata Steel, SBI Life Insurance, Titan Company, JSW Steel, and Bajaj Finserv were the losers. The BSE midcap index rose by about 2 percent and the smallcap index rose by 2.5 percent.

4 reasons for the rise in the stock market today

After falling for six consecutive sessions due to continuous selling by FIIs and geopolitical tensions, the domestic market witnessed a rise today. Here we are telling you about 4 reasons for today's rise.

1) Assembly election result

The ruling BJP has crossed the majority mark in the Haryana Assembly and is leading on 49 seats, setting up a historic third consecutive victory. This victory comes at a time when several exit polls had predicted a Congress victory in Haryana. The market has reacted positively to the results of policy continuity.

2) Interest rate cut expected tomorrow

The RBI's MPC will announce interest rates on October 9 after a three-day meeting. The market is expecting a rate cut on October 9 after the US Federal Reserve cut rates by 50 basis points (bps). Most financial stocks rallied on expectations of a rate cut. Shares of Bajaj Housing Finance were locked in an upper circuit of 10 percent, HUDCO was up 6 percent and PNB Housing Finance jumped 0.36 percent, while HDFC Bank jumped over 2 percent.

3) Softening in Brent crude

Crude oil prices have pared some of their recent gains, driven by rising geopolitical tensions in the Middle East. Earlier, Brent crude held steady above $80 a barrel, its highest level in months. However, fears of a wider conflict appear to be waning, as Israeli actions have so far been confined to Lebanon.

4) Uncertainty in the Chinese market

China's stock market rally eased after a much-anticipated announcement on measures to revive the country's struggling economy disappointed investors. Stocks had surged more than 10 percent when trading resumed after the Golden Week holiday, but retreated after a press conference by the country's economic planners. In a volatile trading session, Hong Kong's Hang Seng index was down more than 7 percent, while the Shanghai Composite index in mainland China was up by around 4.59 percent.