Stock Market News: Sensex, Nifty trade sideways ahead of Brexit Summit; DLF, Vodafone Idea, Bharat Petroleum shares gain
The market is range-bound and currently Nifty is trading in the range of 11,300 to 11,500. Overall the market is bullish and I advise stock market investors to adopt buy on dips strategy till it breaks the upper 11,500 resistance, say stock market experts.
Stock Market News: The Indian indices trade side-ways throughout the intraday trade ahead of the key Brexit Summit and confusion over the US-China trade deal. The BSE Sensex went up 92 points and closed at 38,598 levels after the Closing Bell. The 50-stock Nifty index added 43 points and closed at 11,471 levels. The Bank Nifty ticked 11 points down and closed at 28,543 levels in the intraday trade.
Speaking on the current market trends Sumeet Bagadia, Vice President at Choice Broking said, "Market is range-bound and currently Nifty is trading in the range of 11,300 to 11,500. Overall the market is bullish and I advise stock market investors to adopt buy on dips strategy till it breaks the upper 11,500 resistance."
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GIC Housing Finance, MMTC, Vodafone Idea, DLF, Ashoka Buildcon, Bharat Petroleum or BPCL, SBI Life Insurance and Ashok Leyland stocks were among the major gaining shares in the intraday trade while PNB Housing Finance, Indiabulls Housing Finance, Bandhan Bank, Reliance Capital, Dewan Housing Finance Limited or DHFL, Suzlon Energy and Reliance Power were among the major losing stocks after the Closing Bell session.
Realty stocks led the bull run on Dalal Street as the BSE Realty index soared over 1 per cent in the intraday trade session. Realty major Sunteck Realty share price shot up 4.15 per cent, shares of Sobha Developers went northward 2.17 per cent, DLF stocks went up 1.6 per cent, Godrej Properties counter added 0.8 per cent while Oberoi Realty and Mahindra Lifespace Developers share price went up to the tune of near 0.5 per cent.
Among major Asian markets, the Japanese Nikkei 225 index soared 1.2 per cent, South Korea's Kospi went up 0.71 per cetnt, Hang Seng added 0.61 per cent while the Shanghai markets shed 0.41 per cent.