Stock Market: Sensex, Nifty trade tepid on another BREXIT delay; Dr. Lal Pathlabs, Axis Bank, Oberoi Realty stocks gain
BSE Sensex added 36 points to 39,000 while Nifty-50 index went down 7 points to 11,580 levels. The Bank Nifty index soared 74 points to 29,485 levels.
Stock Market: On account of delay in another BREXIT deal deadline, the global stocks including Indian indices get caught in sideways trade. In the morning Opening Bell session, the BSE Sensex added 36 points to 39,000 while Nifty-50 index went down 7 points to 11,580 levels. The Bank Nifty index soared 74 points to 29,485 levels.
Speaking on the current Indian share market trends Simi Bhaumik, a SEBI registered technical equity analyst said, "Overall the Indian stock market is bullish and trading in the range of 11,500 to 11,650. I would advise share market investors to maintain buy on dips strategy."
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Prakash Pandey, MD & CEO at Plutus Advisors said, "Nifty will face the hurdle or resistance in the zone of 11, 705 to 11810 & Profit booking on Nifty is advisable in this zone." Pandey said that Nifty range in this week is expected to remain in the range of 11,530 to 11,810 levels.
Stocks of Reliance Power, Finolex Cables, Omaxe, Reliance Infrastructure, DCB Bank, Dr. Lal Pathlabs, Oriental Bank of Commerce, JK Lakshmi Cement and Adani Gas were among the major gainers in the Opening Bell while stocks of RBL Bank, Lakshmi Vilas Bank, Dewan Housing Corporation Limited or DHFL, Indiabulls Housing Finance, Reliance Capital, Rallis India and Tata Motors were among the major losers in the intraday trade.
Power sector stocks were among the major gaining shares today as the BSE Power index added around 0.3 per cent in the Opening Bell. power major Adani Transmission share price shot up 3.22 per cent, shares of Thermax scaled 2.13 per cent, Tata Power Company shares went up 1.69 per cent, Bharat Heavy Electricals Ltd or BHEL share price added 1.45 per cent while NHPC counter was up around 1 per cent.
Among major Asian markers, the Japanese Nikkei added 0.14 per cent, South Korean Kospi shed 0.59 per cent, Hang Seng dipped 1.06 per cent while Shanghai markets witnessed selloff to the tune of 0.31 per cent.