Sensex climbs 42K, Nifty at lifetime high; MTNL, Indiabulls Real Estate stocks gain
The BSE Sensex hit its all-time high after testing the 42,000 levels — breaking its previous all-time high of 41,993 while the Nifty-50 index rose to 12,377.80 level — breaking its previous high of 12,776 levels.
The stock market of India scaled on the strong global cues coming in from the US-China trade deal signing. The BSE Sensex hit its all-time high after testing the 42,000 levels — breaking its previous all-time high of 41,993 while the Nifty-50 index rose to 12,377.80 level — breaking its previous high of 12,776 levels. However, Bank Nifty continues to remain weak and shed 124 points to 31,949.20 levels.
Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The market is overall bullish. Nifty is facing strong resistance in between 12,300 to 12,400. If the 50-stocks index sustains above 12,300 levels, then we can expect it to touch 12,400 in one to two trade sessions." She said that Bank Nifty is showing weakness and there can be some more correction taking place in the banking stocks.
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Shares of Yes Bank, SBI, IndusInd Bank, Tata Motors, Reliance Industries, TCS, HDFC Bank and Tata Steel were among the most trending stocks in the Opening Bell trade session on Thursday while HUL, Bharti Aitel, Apollo Hospitals and IndiGo shares were among the most active stocks today.
Telecom stocks witnessed fresh buying in the Opening Bell trade session as the BSE Telecom index went up near 0.45 per cent. Telecom major Vodafone Idea share price scaled 3.83 per cent, Reliance Communications shares shot up 4.71 per cent, Mahanagar Telephone Nigam or MTNL share price skyrocketed 4.95 per cent, ITI stock price rose to near 1 per cent while Bharti Aitel stocks went up near 0.50 per cent.
Realty stocks led the bull run on Dalal Street as the BSE Realty index went up 0.76 per cent in the Opening Bell trade session. Realty major Prestige Estates Projects share price skyrocketed 6.75 per cent, Indiabulls Real Estate shares surged 4.41 per cent, shares of Housing Development & Infrastructure went up 2.99 per cent while DLF stocks went up near 0.50 per cent.
Among the Asian market scenario, the Japanese Nikkei ticked 0.04 per cent, Kospi went up 0.18 per cent, Hang Seng was range-bound while the Shanghai market went down 0.28 per cent.