Sensex rises 231 points, Nifty ends at 12,129 levels; Tata Motors, JSW Steel, ITI stocks gain
BSE Sensex skyrocketed 231 points and closed at 41,198 levels while the 50-stocks Nifty index gained 73 points and closed at 12,129 levels. Bank Nifty index soared 121 points and closed at 30,882 levels.
Stock Market News: On account of positive domestic institutional investors (DIIs) the Indian indices witnessed fresh buying throughout the intraday trade session. The BSE Sensex skyrocketed 231 points and closed at 41,198 levels while the 50-stocks Nifty index gained 73 points and closed at 12,129 levels. Bank Nifty index soared 121 points and closed at 30,882 levels.
Elanorating upon the current stock market scenario Simi Bhaumik, a SEBI registered technical stock expert said, "Overall market is bullish. Nifty has strong support at 12,050 levels. There can be some correction once Nifty reaches around 12,200 levels as Nifty has strong resistance at around 12,200-250 levels. I would advise share market investors to follow buy on dips strategy as Nifty is trading in the range of 12,050 to 12,250 levels.
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Shares of Tata Motors, Reliance Industries, SBI, Bajaj Finance, ICICI Bank, HDFC Bank, Escorts, Infosys and IndusInd Bank were among the most rending stocks in the intraday trade session while shares of Cummins India, Bharti Airtel, Maruti Suzuki India Limited or MSIL and United Spirits were among the most active stocks.
Metal stocks witnessed some fresh buying in the intraday trade as the BSE Metal index went up 0.86 per cent. Metal major JSW Steel share price rose 2.21 per cent, Steel Authority of India Ltd or SAIL shares added 1.38 per cent, shares of Tata Steel went up near 1 per cent while Hindalco Industries went northward 0.64 per cent.
Auto stocks led the bull run as the BSE Auto index went up 0.78 per cent in the intraday trade session. Auto major Tata Motors share price skyrocketed 6.79 per cent, Motherson Sumi Systems and Cummins India shares rose 1.55 per cent, TVS Motor Company stock price surged 1.67 per cent, Bharat Forge stocks rose 1.09 per cent while MRF and Hero MotoCorp added more than 0.75 per cent.
Among the major Asian index, South Korean Kospi gained 0.39 per cent, Japanese Nikkei 225 shot up 0.71 per cent, Hang Seng crashed 2.82 per cent while Shanghai index was closed today.
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