Stock Market India: Sensex, Nifty rise on positive global cues; Tech Mahindra, Vodafone Idea stocks gain
The BSE Sensex opened 169 points up at 36,814 levels while the 50-stock Nifty opened 39 points up at 10,887 levels. The Bank Nifty index was 108 points northward in the opening bell at 27,027 levels.
Stock Market India: On account of strong global cues and new developments in China-US trade talks, the Indian indices rose in the opening bell today. The BSE Sensex opened 169 points up at 36,814 levels while the 50-stock Nifty opened 39 points up at 10,887 levels. The Bank Nifty index was 108 points northward in the opening bell at 27,027 levels.
Speaking on the stock market of India Simi Bhaumik, a SEBI registered technical equity analyst told Zee Business Online, "The market is trading in the range of 10,800 to 11,000 levels. Once the markets break 11,000 levels it would soon show 11,200 to 11,250 levels. However, I would advise stock market investors to main buy on dips strategy till the Nifty sustains above 11,250 levels." She said that metal index would be the most-watched index among the Indian indices as metal and auto stock indices are at its lowest levels and are poised for upside momentum.
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JaiprakashAssociates, CG Power and Industries, Tech Mahindra, Power Finance, HDIL and REC stocks were among the major gaining stocks in the opening bell while Indiabulls Housing Finance, Lakshmi Vilas Bank, Reliance Communications, Muthoot Finance, DLF, Sun Pharma and Tata Communications shares were among the major losing shares in the morning trade session.
Tech stocks led the bull run on Dalal Street in the opening bell session as the BSE Tech index went up near 1 per cent. Tech major Tech Mahindra share price scaled 4.75 per cent, shares of Vodafone Idea went up 1.57 per cent, Inox Leisure shares went up 3.37 per cent, Infosys share price soared 1.29 per cent while Bharti Airtel stocks went 1.25 per cent up in the morning trade session.
Among Asian markets, the Japanese Nikkei 225 index gained 0.42 per cent, South Korean Kospi went up 0.24 per cent, Hang Seng soar 0.58 per cent while Shanghai markets were 0.16 per cent higher.