Sensex regains 39,000 levels, Bank Nifty sustains above 30,000; RCom, DHFL, PC Jeweller stocks bleed
The BSE Sensex regained the 39,000 levels and rose 118 points to 39,079 while the 50-stock Nifty added 38 points to 11,710 levels. The index Bank Nifty rose 77 points to 30,351.
As the stock market investors are awaiting Fed meeting, the Indian indices trade sideways in the early morning trade session. The BSE Sensex regained the 39,000 levels and rose 118 points to 39,079 while the 50-stock Nifty added 38 points to 11,710 levels. The index Bank Nifty rose 77 points to 30,351 giving an indication of sustaining above the psychological 30,000 levels. Sundaram Clayton, Varun Beverages, Spicejet, Vakrangee and Max India were among the top gaining stocks while Jet Airways, PC Jeweller, Manpasand Beverage, Reliance Communications and DHFL were among the top stocks that nosedived in the early morning trade session.
Speaking on the current market outlook Deepak Jasani, Head Retail Research, HDFC Securities said, "Market is expected to remain flat to mildly higher. IT and FMCG indices can do well while Banks, Auto indices could underperform. On the upside, Nifty could face resistance at 11770, while 11656 remains support. Among stocks under coverage, Orient Cement, Supreme Petro, Infosys could do well in the intraday trade."
Metal stocks led the bull run on Dalal Street as the BSe metal index rose around 0.8 per cent. Metal major Vedanta share price jump 1.25 per cent, JSW Steel shares added 0.67 per cent, Tata Steel added 0.3 per cent, however, Hindustan Zinc share price went down 1.34 per cent while Jindal Steel & Power, NMDC and NALCO went off by a whisker.
It stocks also witnessed buolk buying in the morning session as the IT major Subex share price soar 2.86 per cent, share price of Persistent Systems corrected aound 1.5 per cent, Infosys counter went up around 0.7 per cent, Datamatics Global Services rose 1.1 per cent, Brightcom Group shares soar arpund 4.9 per cent while 3i Infotech shares jump around 1.5 per cent.
Among Asian markets Japanese Nikkei 225 index dipped 0.55 per cent, South Korean Kospi went up 0.5 per cent, Hang Seng added 0.68 per cent while the Shanghai index nudged 0.08 per cent higher.