Sensex, Nifty rise as Telecom, Energy stocks gain; Vodafone Idea, Oriental Bank, Castrol India shares soar
Stock Market News: The Indian indices had a bull run today as the Sensex heavyweight and energy major Reliance Industries Limite or RIL share price skyrocketed near 3.5 per cent after the Closing Bell. The BSE Sensex soared 185 points after closing at 40,469 levels while the Nifty-50 index added 55 points and closed at 11,940 levels. Bank Nifty index extended its early morning gains and closed at 31,236 levels, gaining 244 points in the intraday trade.
Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The market is overall bullish and has strong support at 11,850. Much will depend on tomorrow Opening Bell and if the Nifty sustains above 11,950 then we can expect the 50-stock index to hit 12,000 and may be 12,100."
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Telecom stocks consolidated it's Opening Bell trade session gains as the BSE Telecom Index ended up after 8.52 per cent gains from the previous close. Telecom major Vodafone Idea share price skyrocketed over 38 per cent, shares of Tejas Networks jumped 19.96 per cent, Bharti Airtel shares soared 8.76 per cent, Bharti Infratel stocks gained 11.67 per cent, Reliance Communications stock price rose 3.51 per cent while OnMobile Global counter shot up 9.6 per cent after the Closing Bell.
Energy stocks also witnessed heavy buying in the intraday trade as the BSE Energy index went up near 2.5 per cent. Energy major and Sensex heavyweight Reliance Industries or RIL share price skyrocketed 3.71 per cent, Oil India shares soared 1.6 per cent while Castrol India share price scaled 6.54 per cent northward.
Among the major Asian markets, the Japanese Nikkei 225 index shed 0.53 per cent, Kospi crashed 0.34 per cent, Hang Seng shot up 1.55 per cent while the Shanghai market soared 0.85 per cent.
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