Sensex, Nifty regain early morning loss; DHFL, Indiabulls Housing Finance, Allahabad Bank stocks gain
The BSE Sensex nudged 22 points higher and closed at 39,839 levels while the 50-stock Nifty added 6 points after closing at 11,916 levels. The Bank Nifty index surge 99 points and closed at 31,382.
After trading range-bound throughout the intraday trade session, Indian stock market finally closed in the green zone. The BSE Sensex nudged 22 points higher and closed at 39,839 levels while the 50-stock Nifty added 6 points after closing at 11,916 levels. The Bank Nifty index surge 99 points and closed at 31,382. DHFL, Indiabulls Housing Finance, Allahabad Bank and ITI were the top gaining stocks while Cox & Kings, Magma Fincorp, Centrum Capital and BayerCropscience stocks were among the top losing stocks in the intraday trade session.
Commenting on the market outlook of the Indian stock marketSimi Bhaumik, a SEBI registered technical equity expert said, "The market is overall bullish and it may show 12,100 to 12,300 levels before budget as the pre-budget rally is still expected to continue. The Bank Nifty has taken strong support at 31,100 and the index is expected to remain above these levels till the budget 2019."
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Realty stocks led the bull run on Dalal Street as the BSE Realty index surged 0.7 per cent in the intraday trade. Realty major Prestige Estates Projects share price jump 5.71 per cent, shares of Mahindra Lifespace Developers rose 3.12 per cent, Sobha stocks added 2.25 per cent, Sunteck Realty scrip surge 1.39 per cent while DLF counter nudged 0.4 per cent higher in the intraday trade.
Capital Goods stocks followed the realty index closely as the BSE Capital Goods index shot up 0.57 per cent. Capital Goods major Elgi Equipments share price shot up 2.22 per cent, shares of Grindwell Norton went northward 1.77 per cent, Hindustan Aeronautics and L&T rose to near 1 per cent. However, AIA Engineering share price crashed 2.05 per cent, shares of Finolex Cables dipped 2.41 per cent while Solar Industries India stocks nosedived 1.3 per cent.
Among Asian markets, the Japanese Nikke 225 index crashed 0.53 per cent, South Korean Kospi nosedived 1.23 per cent, Hang Seng slipped 0.07 per cent while Shanghai index dipped 0.94 per cent.
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