Sensex, Nifty soar on positive FII; GTL, Adlabs Entertainment stocks gain
The BSE Sensex shot up 164 points to 39,875 while the 50-stock Nifty index soar 39 points to 11,962. The Bank Nifty index was in wait and watch situation as the index nudged 3 points up to 31,377 levels.
On account of positive foreign institutional investors (FIIs) sentiment, the Indian indices soar today in the early morning trade session. The BSE Sensex shot up 164 points to 39,875 while the 50-stock Nifty index soar 39 points to 11,962. The Bank Nifty index was in wait and watch situation as the index nudged 3 points up to 31,377 levels. GTL and Adlabs Entertainment stocks were among the major stocks that were in the green zone in early morning trade.
Speaking on the market trend Simi Bhaumik, a SEBI registered technical equity analyst told Zee Business online, "Overall the market is bullish and trading in the range of 11,800 to 11,950. It is facing strong resistance at 11,950 to 12,040. Once, the market breaks this resistance and sustains above the higher range of resistance mentioned above."
Telecom stocks led the bull grip at Dalal Street in early morning trade as the BSE Telecom index shot up around 0.7 per cent. Telecom major GTL Limited share price went up 4.5 per cent, shares of GTPL Hathway edged over 1.5 per cent northward, Tata Teleservices (Maharashtra) share price skyrocketed 9.86 per cent while Bharti Airtel stock went up near 0.9 per cent. Reliance Communications aka RCom stock went down around 0.9 per cent.
Among FMCG stocks, share price of AVT Natural Products shot up over 10 per cent, Agro Tech Foods share price went up over 5 per cent while Vadilal Industries lost 4.3 per cent, Venky's (India) share price lost 2.6 per cent, United Breweries went down around 1.1 per cent, Ruchi Soya Industries counter nosedived around 4.95 per cent and Manpasand Beverages corrected around 5 per cent.
Among Asian stocks, Japanese Nikkei 225 index crashed 1.32 per cent, South Korean Kospi went up 0.86 per cent, Hang Seng went down near half a per cent while the Shanghai stock market went down 0.42 per cent in the early morning intraday trade.