Stock Market: Sensex climbs 34K, Nifty above 10,000 levels; Kotak Mahindra Bank, Oberoi Realty shares surge
Stock Market: Bank Nifty index failed to retain the psychological 21,000 levels and closed at 20,918 levels, but above 388 points from its yesterday's closing.
Stock Market: On account of strong global sentiments, the Indian indices closed near 0.85 per centy higher from its yesterday's closing. The BSE Sensex rose 297 points and closed at 34,123 levels while the NSE Nifty shot up 90 points and closed at 10,069 levels. However, Bank Nifty index failed to retain the psychological 21,000 levels and closed at 20,918 levels.
Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The NSE Nifty has climbed 10,000 levels and if it sustains above 10,100 levels tomorrow then we can expect it to further make a rally of 150 to 200 points." On stocks that may fuel the upcoming markets Bhaumik said that private banks and NBFCs are expected to outperform other stocks because they have received the maximum beating during the bearish days. She suggested traders to keep an eye on Muthoot Finance, MAnappuram Finance, Bajaj Finance, Bajaj Finserve, Kotak Mahindra Bank and ICICI Bank stocks.
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Shares of SBI, Reliance Industries, Axis Bank, ICICI Bank, HDFC Bank, Housing Development Finance, Tata Motors, IndusInd Bank, Indian Oil and Tata Steel were among the most trending stocks in the intraday trade session while shares of Bajaj Finance, Kotak Mahindra Bank, Bharti Airtel and |HDFC Life were among the most active stocks throughout the trade session today.
Realty stocks led the bull run on Dalal Street today as the BSE Realty index rose over 3 per cent in the intraday trade. Realty major Oberoi Realty share price soared 6.74 per cent, Godrej Properties shares shot up 8.86 per cent, shares of Indiabulls Real Estate escalated 4.97 per cent, Prestige Estates Projects stock price rose 2.27 per cent while Sobha stocks added 1.05 per cent.
Banking and Financial stocks also witnessed some fresh buying in the intraday trade sesion. Banking major Kotak Mahindra Bank share price shot up 3.31 per cent, State Bank of India or SBI share price soared 2.70 per cent, shares of ICICI Bank rose 2.34 per cent, HDFC Bank stock price added 2.24 per cent, City Union Bank scrip escalated 3.47 per cent while RBL Bank added 2.83 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index soared 1.29 per cent, South Korean Kospi skyrocketed 2.87 per cent, Hong Kong's Hang Seng shot up 1.37 per cent while Shanghai market added 0.04 per cent.
At Wall Street yesterday, Dow Jones ended 1.05 per cent higher, Nasdaq rose 0.59 per cent, S&P 500 shot up 0.82 per cent while SmallCap 2000 added 0.65 per cent.
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