Sensex regains 39,000 levels, Nifty sustains above 11,650; YES Bank, Tata Motors, DLF stocks gain
The BSE Sensex regained the psychological 39,000 levels by logging 234 points gains in the intraday trade. The Nifty 50 index also soar 74 points and closed at 11,662 levels.
The stock market of India finished on the higher side on Tuesday as investors are awaiting Federal Reserve's interest rate cut, which the American Central Bank had announced from July onwards. The BSE Sensex regained the psychological 39,000 levels by logging 234 points gains in the intraday trade. The Nifty 50 index also soar 74 points and closed at 11,662 levels. Bank Nifty index rose 124 points and closed at 30,570 levels. YES Bank, P&G Health, Manappuram Finance and Tata Motors were among the top gaining stocks while Deepak Fertilisers, CG Power and Industries, PC Jeweller, KRBL and Reliance Communications were among the top losing shares today.
Speaking on the current market scenario Prakash Pandey, Head of Research at Fairwealth Securities said, "The market is in a broad range of 11,450 to 11,750. It had a strong resistance at around 11,610-620 which it has broken and hence the market may show some more buying incoming trade session as it would take time to go below 11,600 now."
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Realty stocks led the bull run on Dalal Street as the BSE Realty index added near 2 per cent in the intrada trade on Tuesday. Realty major DLF share price soared near 3 per cent, shares of Phoenix Mills rose 3.1 per cent, Godrej Properties counter shot up 2.57 per cent, Prestige Estates Projects counter added 2.88 per cent, Sunteck Realty scrip scaled 1.58 per cent while Indiabulls Real Estate stocks went northward near 0.9 per cent.
Oil and Gas stocks also witnessed heavy buying pressure in the intraday trade. Oil and Gas major Castrol India share price skyrocketed 3.63 per cent, shares of Gujarat State Petronet shot up 3.97 per cent, Hindustan Petroleum Corporation Ltd aka HPCL share price soared 3.27 per cent, Indian Oil Corporation Ltd or IOCL counter added near 1 per cent, Indraprastha Gas Ltd stocks rose 1.73 per cent while Sensex heavyweight Reliance Industries Ltd or RIL stocks soar 1.35 per cent.
Among Asian markets, the Japanese Nikkei 225 index crashed 0.69 per cent, South Korean Kospi rose 0.45 per cent, Hang Seng added 0.23 per cent while the Shanghai index slipped 0.16 per cent in the intraday trade.