Sensex, Nifty climb life-time high; Hero MotoCorp, Apollo Hospitals, Vedanta stocks gain
The BSE Sensex shot up 553 points after closing at 40,267 levels while the 50-stock Nifty went northward 165 points and closed at 12,088 levels. The Bank Nifty index rose 278 points and closed at 31,653 levels.
On account of crashing crude oil prices, positive foreign institutional investors (FIIS) and domestic institutional investor (DII) sentiment, the Indian indices climb its life-time high on Monday intraday trade. The BSE Sensex shot up 553 points after closing at 40,267 levels while the 50-stock Nifty went northward 165 points and closed at 12,088 levels. The Bank Nifty index rose 278 points and closed at 31,653 levels. All indices were in the green zone today while energy, auto and consumer durable stocks were the leading gainers. Info Edge (India), Apollo Hospitals, Page Industries, Hero MotoCorp and Trent stocks were the leading gainer in the intraday trade.
Speaking on the Indian indices making fresh highs today Prakash Pandey, Head of Research at Fairwealth Securities said, "The skyrocketing of the Indian indices is mainly caused by the crash in crude oil prices and positive FII and DII sentiments that combined together and pulled Sensex and Nifty in the Blue Sky Territory." Pandey went on to add that Auto and banking stocks would continue to remain bullish in the coming trade sessions as well.
Energy stocks led the bull run on Dalal Street as the BSe Energy index rose 2.14 per cent in the intraday trade. Energy major and Sensex heavyweight Reliance Industries share price shot up 2.2 per cent, share price of Coal India Ltd went up 2.3 per cent, Castrol India counter added around 2.1 per cent, Gujarat Gas stocks rose around 1.98 per cent, Indian Oil Corporation counter went northward around 2.1 per cent while Oil India Limited share price surge 1.1 per cent.
Following the energy index closely, BSE auto index added more than 2 per cent. Auto major Hero MotoCorp share price skyrocketed 5.87 per cent, TVS Motor Company shares shot up 4.29 per cent, Bajaj Auto counter added 3.82 per cent, Ashok Leyland scrip went northward near 3.5 per cent, Cummins India went up around 2 per cent, MRF Ltd shares jump 1.15 per cent while Maruti Suzuki India share price rose 2.89 per cent.
Among banking stocks IndusInd Bank share price soar 3.7 per cent, HDFC Bank and City Union Bank counter added more than 1 per cent. Among metal shares Steel Authority of India (SAIL) share price rose 2.1 per cent, Vedanta counter added 2.05 per cent, the share price of ata Steel went northward 1.76 per cent while Hindalco Industries and Hindustan Zinc stocks rose 1.45 and 1.1 per cent respectively.
Among Asian bourses, the Japanese Nikkei 225 index lost 0.92 per cent, South Korean Kospi added 1.28 per cent, Hang Seng nudged down 0.03 per cent while the Shanghai stock market went down 0.3 per cent.