Sensex, Nifty rise ahead of US-China trade deal; NALCO, Hero MotoCorp, Aurobindo Pharma stocks gain
The stock market of Indian trade range-bound ahead of the much-awaited US-China trade deal scheduled on 15th January 2020. The BSE Sensex rose 92 points and closed at 41,952 levels while the 50-stocks Nifty went up 32 points and closed at 12,362 levels. Bank Nifty index remained weak and shed 106 points after closing at 32,071 levels.
Speaking on the current market trends SEBI registered technical equity analyst Simi Bhaumik said, "Overall the market is bullish. Nifty has taken strong support at 12,200 levels, which doesn't seem to be getting broken in the current market scenario. however, it is facing strong resistance at 12,300 levels. If it manages to break these levels and sustain above this, then we can witness a sharp rise up to 12,400 levels." Bank Nifty is behaving weak and it is bullish till it is above 32,000 levels. It has strong resistance at 32,300 levels.
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Shares of Yes Bank, IndusInd Bank, SBI, Tata Global Beverages, Reliance Industries, Infosys, Tata Motors, Tata Power, Aurobindo Pharma and HDFC Bak were among the most trending stocks in the intraday trade session while IndusInd Bank and Tata Global Beverages were among the most most active stocks.
Metal stocks witnssed some fresh buying in the intraday trade session as the BSE Metal index went up over 0.9 per cent. Metal major National Aluminium Company or NALCO share price shot up 2.62 per cent, Vedanta shares soared 2.74 per cent, Steel Authority of India Ltd or SAIL stock price surged 1.50 per cent while Hindalco Industries, JSW Steel and Tata Steel stocks ended in the green zone.
Among the major Asian markets, the Japanese Nikkei surged 174 points at 24,025 levels, Kospi went up 0.43 per cent, Hang Seng shed 0.24 per cent while the Shanghai markets went down 0.28 per cent after the Closing Bell.
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