Sensex scales 537 points, Nifty surge 150 points on positive DII; Indiabulls Ventures, Hero MotoCorp, Venky's India stocks soar
The BSE Sensex shot up 537 points and closed at 37,930 levels while the 50-stock Nifty scaled 150 points before closing at 11,407 levels. Index Bank Nifty shot up 594 points and closed at 29,450 levels.
The stock market of India skyrocket around 1.25 per cent on fresh buying by the domestic institutional investors (DII). The BSE Sensex shot up 537 points and closed at 37,930 levels while the 50-stock Nifty scaled 150 points before closing at 11,407 levels. Index Bank Nifty shot up 594 points and closed at 29,450 levels. Auto, banking and financial and FMCG stocks were among the major gainers in the intraday trade. Indiabulls Ventures, Hero MotoCorp and Venky's India stocks were among the major shares that registered a robust gain in the intraday trade today.
Simi Bhaumik, a SEBI registered technical equity analyst told Zee Business online, "Market is overall bullish and has broken the resistance of 11,350 levels and now it is in the range of 11,300 to 11,550, its earlier range that it lost in last fortnight correction." Bhaumik said that much depends upon the Lok Sabha 2019 results and till then she advised market investors to maintain buy on dips strategy.
Auto stocks led the bull run on Dalal Street as the BSE Auto index registered more than 2.5 per cent gain today. Auto major Hero MotoCorp scaled 4.78 per cent, Eicher Motors shares went up 3.4 per cent, Bajaj Auto counter went up around 3.1 per cent, shares of Ashok Leyland surge 2.3 per cent while Maruti Suzuki India shares shot up 3.65 per cent.
In Banking and finance sector Indiabulls Ventures shares skyrocketed 18.9 per cent, Axis Bank shares shot up 2.49 per cent, shares of Kotak Mahindra Bank went up 3.27 per cent, Bank of Baroda shares added 2.37 per cent, HDFC Bank and ICICI Bank counters shot up 2.13 and 2.7 per cent respectively.
Among Asian stocks, Japans' Nikkei went up 0.89 per cent, South Korean Kospi went down 0.58 per cent, Hang Seng went down 1.16 per cent while the Shanghai market crashed around 2.48 per cent.