Sensex, Nifty trade tepid ahead of US-China trade talks; UCO Bank, Indiabulls Real Estate, Aurobindo Pharma stocks gain
In the Opening Bell session, the BSE Sensex ticked 2 points higher at 37,534 levels while the 50-stock Nifty index was 6 points down at 11,120 levels. The Bank Nifty index went up 28 points up in the Opening Bell at 27,796 levels.
The stock market of India trade sideways as the FIIs have gone neutral ahead of the US-China trade talks scheduled on October 10-11th. In the Opening Bell session, the BSE Sensex ticked 2 points higher at 37,534 levels while the 50-stock Nifty index was 6 points down at 11,120 levels. The Bank Nifty index went up 28 points up in the Opening Bell at 27,796 levels.
Speaking on the current market scenario, SEBI registered technical equity analyst Simi Bhaumik said, "The market is range-bound and has strong support at 11,100 levels. It has strong resistance at 11,260 levels. It's breakage of either side would decide the bull or bear grip at the Indian indices. Till the Nifty trades in this range, I suggest traders to adopt buy on dips strategy."
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Indiabulls Real Estate, UCO Bank, Aurobindo Pharma, Star Cement, Vodafone Idea, ITI, Tata Power and Adani Green Energy share were the major gaining stocks in the Opening Bell session today while Yes Bank, Titan Company, Dewan Housing finance Limited or DHFL, Lakshmi Vilas Bank, Suzlon Energy, Oberoi Realty and DLF stocks were the major losing shares in the morning trade session on Wednesday.
Power sector stocks led the bull run on Dalal Street as the BSE Power index gained around 0.6 per cent in the Opening Bell session on Wednesday. Power major JSW Energy share price shot up 3.08 per cent, shares of ABB India surged 1.9 per cent, GMR Infrastructure and Torrent Power soared to the tune of around 1.25 per cent while NHPC and KEC International counters went up near 1 per cent in the morning trade session.
Among major Asian markets, the Japanese Nikkei 225 index sged 0.72 per cent, South Korean Kospi gained 1.21 per cent, Hang Seng shed 0.66 per cent while the Shanghai market went down 0.14 per cent.