Stock Market Live: Sensex, Nifty rise on ease in China-US trade tension; Tata Steel, Yes Bank, Gruh Finance stocks gain
The BSE Sensex rose 63 points at 37,131 levels while the 50-stock Nifty added 18 points to 10,966 levels. The Bank Nifty index shot up 65 points at 27,371 levels.
Stock Market Live: The Indian indices inched higher after the news of ease in Sino-US trade tension. The BSE Sensex rose 63 points at 37,131 levels while the 50-stock Nifty added 18 points to 10,966 levels. The Bank Nifty index shot up 65 points at 27,371 levels. Navkar Corporation, Gruh Finance, Adani Green Energy, CG Power and Industries, Yes Bank, Tata Steel and Suzlon Energy stocks were among the major gaining stocks in the opening bell trade session while Corporation Bank, Coffee Day Enterprises or CCD, ITI, NIIT Technologies and Ashok Leyland stocks were among the major losing stocks in the opening bell session.
Giving an idea about the rise in Indian stock market Prakash Pandey, MD & CEO at Plutus said, "This rise can be attributed to the ease in China-us trade tension, however, slow down in the global economy is still looming on the global indices that include Indian share market as well."
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SEBI registered technical analyst Simi Bhaumik said, "In my view, the Indian stock market is trading in the range of 10,900 to 11,250. So, any dip should be taken as a buying opportunity. Nifty is facing strong resistance at 11,250 levels. Once, it clears this levels and sustains above this mark, then we can expect the markets to go around 11,450-500 levels."
Metal stocks led the bull run today as the BSE Metal index rose 1.14 per cent in the opening bell trade session. Metal major Tata Steel share price surge 2.25 per cent, shares of Jindal Steel & Power shot up 3.03 per cent, shares of Hindalco Industries, Steel Authority of India (SAIL) and Hindustan Zinc added near 1.6 per cent, National Aluminium Company or NALCO stocks added 1.87 per cent while Vedanta counter soared 1.73 per cent.
Banking and financial stocks also witnessed fresh buying in the opening bell trade session. Banking major Yes Bank share price soared 1.6 per cent, Federal Bank counter went up 1.18 per cent, RBL Bank shares added 0.7 pr cent, IndusInd Bank scrip went up 0.93 per cent while ICICI Bank and HDFC Bank added near 0.8 per cent in the intraday trading session.
Among Asian markets, the Japanese Nikkei 225 index rose 1.26 per cent, South Korean Kospi shot up 1.88 per cent, Hang Seng added 0.51 pe cent while Shanghai index went up 0.23 pre cent.