Sensex, Nifty Bank gain over 150 points; PC Jeweller, Sterlite Technologies, RCom stocks gain
Sensex gained around 165 points (at 9:28 AM) to 38,765 levels while the 50-stock Nifty shot up 41 points to 11,640 levels (at 9:28 AM). The Nifty Bank index shot up around 205 points to 29,823 (at 9:30 AM) levels.
Stock market of India witnessed some fresh buying in early moThe BSE Sensex gained around 165 points (at 9:28 AM) to 38,765 levels while the 50-stock Nifty shot up 41 points to 11,640 levels (at 9:28 AM). The Nifty Bank index shot up around 205 points to 29,823 (at 9:30 AM) levels. rning trade on Tuesday after losing heavily on Monday intraday trade. PC Jeweller, Sterlite Technologies and Reliance Communications or RCom stocks were among the major gainers in early morning trade on Tuesday.
Speaking on the current market trend SEBI registered technical equity analyst Simi Bhaumik said, "Market is range-bound and in Nifty perspective, it is trading in the range of 11,500 to 11,800. However, overall the market is bullish and hence I advise stock market investors to maintain buy on dips strategy and any 100-150 points correction in the Nifty index should be taken as a buying opportunity rather getting panic over the tank."
Consumer durable stocks led the bull run on Dalal Street today as BSE Consumer Durable index shot up 1.15 per cent. consumer Durable major PC Jeweller shot up 4.7 per cent, Blue Star share price jump over 2.5 per cent, Rajesh Exports shares rose 1.5 per cent, Titan Company counter rose 1.3 per cent, Whirlpool of India scrip added near 1 per cent while Symphony stocks went down near 2 per cent.
After heavy selloff on Monday, metal stock also witnessed some fresh buying in early morning trade session as the BSE Metal index went up around 1.13 per cent. Metal major Hindalco Industries jump 1.4 per cent, NMDC and National Aluminium Company or NALCO share price went up near 1.35 per cent, Steel Authority of India or SAIL share price went northward near 1.1 per cent while Tata Steel and Vedanta shares nudged northward by near 0.9 per cent.
Telecom stocks also have some buying interest amont the stock market invetors. Telecom major Reliance Communications or RCom share price shot up over 4.5 per cent, Sterlite Technologies stocks jump near 4.15 per cent, Tata Communications scrip rose 2.16 per cent, Bharti Infratel counter rose near 1.45 per cent while Vodafone Idea share price rose near 0.6 per cent.
Asian stocks continued to witness the profit booking fuelled by the US President Donald Trumps tweet on yesterday. Japanese Nikkei 225 index lost 1.37 per cent, South Korean Kospi crashed 1.13 per cent, Hang Seng nudged 0.13 per cent higher while Shanghai index inched 0.32 per cent northward.