Closing Bell: Sensex rise over 250 points, Nifty near 11,700; Bank Nifty regains 30,000 levels
On account of emerging Sino-US trade talks optimism, the Indian indices went up after trading range-bound in the first half of the Tuesday intraday trade session. The BSE Sensex surge 238 points to 38,939 levels while the 50-stock Nifty went up 67 points to 11,671 levels. The index Nifty Bank regained the psychological 30,000 levels as it went northward gaining around 268 points from the Monday close.
Giving an idea about the current market scenario Simi Bhaumik, a technical equity analyst who is officially registered with the market regulator SEBI told Zee Business online, "Overall the market is bullish but in range bound position. The Indian indices are expected to remain range bound till the 50-stock Nifty trades in the range of 11,600 to 11,750 levels. The further trend of the market will become visible as and when either side of the range is broken at Nifty."
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Realty stocks led the bull run on Dalal Street as the BSE Realty index rose over 1.5 per cent. Realty major Indiabulls Real Estate shot up over 12 per cent, shares of Prestige Estates Projects went northward around 3.7 per cent, Housing Development & Infrastructure counter went up 1.65 per cent while the DLF stocks surge around 1.25 per cent.
Auto stocks also witnessed bulk buying on Tuesday intraday trade. Auto major Ashok Leyland shot up around 5.3 per cent, Cummins India went northward around 4.5 per cent, Tata Motors counter went up near 3.25 per cent, Maruti Suzuki India scrip surged around 1.55 per cent, Hero MotoCorp went 1.8 per cent higher while Bajaj Auto stocks witnessed rise over 2 per cent.
Asian stocks also had to witness a range bound trade. Japan's Nikkei 225 index nudged 0.08 per cent higher, South Korean bourses Kospi advanced 0.13 per cent, Hang Seng surged around 0.34 per cent while the Shanghai index went down 0.15 per cent.
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