Stock Market: BSE Sensex gains 222 points, Nifty near 9K; NTPC, SBI shares gain
Stock Market: BSE Sensex closed 222 points up at 30,602 levels while the NSE Nifty index shot up 67 points and closed at 8,992 levels. Bank Nifty indx shot up 345 oints and closed at 19,400 levels.
Stock Market: On account of positive domestic institutional investors (DIIs), the Indian indices closed in the green zone today. The BSE Sensex closed 222 points up at 30,602 levels while the NSE Nifty index shot up 67 points and closed at 8,992 levels. Bank Nifty index shot up 345 points and closed at 19,400 levels.
Speaking on the current market scenario; Prakash Pandey, MD & CEO at Plutus Advisors said, "Indian markets are trading cautiously as they are closely watching the devlopments in the US markets. Currently, Nifty is having immediate support at 8,800 levels but it has strong support at 8,555 levels. I would advise share market investors toi keep booking profit on every 6-7 per cent rise and take buy position around the two support zones I have mentioned. Nifty has strong resistance at 9,200. So, my suggestion to the investors is to avoid taking any position between 9,000 to 9,200 levels untill Nifty sustains above 9,200 levels for at least two closing sessions."
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Shares of SBI, Reliance Industries, HDFC Bank, ICICI Bank, Tata Motors, Motherson Sumi Systems, Bahrti Airtel, Bajaj Finance, ITC and Tata Consultancy Service or TCS were among the most trending stocks in the intraday trade session while shares of Axis Bank, Hindustan Unilever Limited or HUL, Housing Development Finance Corporation or HDFC, Kotak Mahindra Bank and Infosys were among the most active stocks throughout the intraday trade session.
Power stocks led the bull run on Dalal Street as the BSE Power index shot up around 2.85 per cent in the intraday trade session. Power major KEC International share price skyrocketed around 10 per cent, NTPC shares soared 5.84 per cent, shares of Reliance Infrastructure shot up 4.85 per cent, Adani Power stock price rose over 2 per cent, Bharat Heavy Electricals stocks rose 1.40 per cent, JSW Energy counter added 1.85 per cent while Power Grid Corporation of India share price scaled up 1.88 per cent.
Banking stocks also witnessed some fresh buying as the BSe Banking index went up 1.43 per cent in the intraday trade session. Banking major State Bank of India or SBI share price shot up 3.46 per cent, ICICI Bank shares surged 4.52 per cent, shares of HDFC Bank added to the tune o near 2 per cent, Axis Bank stock price went up 1.45 per cent, IndusInd Bank stocks went northward 2.57 per cent while Kotak Mahindra Bank share price shed 3.66 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index sink 1.33 per cent, South Korean Kospi went down near 0.02 per cent, Hang Seng went down 0.58 per cent while Shanghai index added 0.31 per cent.
Yesterday at Wall Street, Dow 30 went down 1.86 per cent, Nasdaq corrected around 1.44 per cent, S&P 500 crashed 2.20 per cent while SmallCap 2000 crashed 3.92 per cent.
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