Stock Market: Sensex soars 1265 points, Nifty climbs 9K; auto, telecom, banking stocks gain
Stock Market Today: BSE Sensex skyrocketed 1,265 points regaining 31,000 levels after closing at 31,159 levels. The NSE Nifty index surged 363 points and closed at 9,111 levels.
Stock Market Today: On account of strong global sentiments after the Wall Street rally yesterday, Indian indices regained the positie momentum in teh intraday trade session. The BSE Sensex skyrocketed 1,265 points regaining 31,000 levels after closing at 31,159 levels. The NSE Nifty index surged 363 points and closed at 9,111 levels. Bank Nifty shot up 967 points and closed at 19,913 levels.
Speaking on the current stock marjket scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Market has regained positive momentum on strong global cues after Wall Street rally yesterday. However, Nifty needs to close above 9,050 levels for one more trade session as it would be a sign of investors having full faith in the Indian fight against Coronavirus and now only trigger that would affect the Indian markets will be the Wall Street performance. So, opening and close on Monday will be crucial as the Stock Market will be closed on tomorrow on the occassion of Good Friday.
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Shares of HDFC Bank, Sun Pharma, Reliance Industries, Cadila Healthcare, IndusInd Bank, Axis Bank, ICICI Bank, Housing Development Finance, Lupin and SBI were among the most active stocks throughout the intraday trade session while shares of Tata Motors, Sun Pharma, Cipla and HDFC Bank were among the most trending stocks in the intraday trade session.
Auto stocks led the bull run as the BSE Auto index shot up over 10 per cent in the intraday trade session. Auto major Mahindra & Mahindra share price skyrocketed 16.74 per cent, Motherson Sumi Systems shares soared 17.54 per cent, shares of maruti Suzuki surged over 13 per cent, Tata Motors stock price roared around 10 per cent, Hero MotoCorp stocks scaled up 9.65 per cent while Ashok Leyland scripm added around 4 per cent.
BSE Telecom index soared 5.72 per cent as the Telecom stocks witnessed some fresh buying in the intraday trade session. Telecom major Bharti Airtel share price skyrocketed 6.26 per cent, ITI shares shot up 5.51 per cent, Mahanagar Telephone Nigam share price surged 9.94 per cent, Sterlite Technologies stock price scaled up over 11 per cent, Vodafone Idea stocks added 2.50 per cent while HFCL scrip went northward 8.99 per cent.
Banking shares went up on the fresh FII buying leading to the BSE Banking index rising to the tune of near 5.5 per cent. Banking major Axis Bank share price shot up 7.31 per cent, ICICI Bank shares rose 7.41 per cent, shares of Kotak Mahindra Bank soared 7.51 per cent, HDFC Bank stock price went up 3.98 per cent while the State Bank of India or SBI share price added 2.62 per cent.
Among the major Asian indices, Hang Seng soared 1.38 per cent, South Korean Kospi jumped 1.61 per cent, Japanese Nikkei 225 index shed 0.04 per cent while Shanghai market went up 0.37 per cent.
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