Stock Market Today: BSE Sensex, NSE Nifty advance in opening bell trade session; IndusInd Bank shares jump over 4 pct
The BSE Sensex shot up 88 points to 38,581 levels while the NSE Nifty added 22 points and hit 11,278 mark. Bank Nifty index ticked 15 points lower to 22,090 levels in the early morning trade session.
Stock Market: On account of fresh buying in majority of the Indian indices, DALAL Street opened on teh higher side in the opening bell trade session. The BSE Sensex shot up 88 points to 38,581 levels while the NSE Nifty added 22 points and hit 11,278 mark. Bank Nifty index ticked 15 points lower to 22,090 levels in the early morning trade session. Metal, banking, healthcare and utility goods indices were among the major gainers in the opening bell trade.
Speaking on the current market scenario Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Overall the market trend is bullish. For the last one week, NSE Nifty has been trading in the range of 11,000 to 11,250 and if it sustains above this 11,250 levels, we can expect it to go up to 11,400 to 11,500 mark." He said that Bank Nifty in in strong support zone at 21,500 to 22,000 levels and one should continue with buy on dips strategy till NSE Nifty is above 11,000 levels and Bank Nifty is above 21,500 mark.
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On account of fund raise through preferential issue of equity, the IndusInd Bank share price skyrockted in the opening bell trade se3ssion. The POublic Sector Bank sahre price skyrocketed 4.16 per cent that reflects that that the markets has cheered the bank's board of directors decision taken yesterday.
Metal stocks witnessed sone fresh buying as the BSE Metal index went up to the tune of 1 per cent in the early morning trade session. Metal major Tata Steel share price surged 2.32 per cent, JSW Steel shares rose 1.58 per cent, shares of NMDC went up 1.29 per cent while Vedanta stock price went northward 1.62 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index shed around 1 per cent, south Korean Kospi added 0.25 per cent, Hong Kong's Hang Seng scaled up 0.27 per cent while the Shanghai index soared 1.06 per cent.
At Wall Street on Tuesday, Dow Jones crashed 0.77 per cent, Nasdaq nosedived 1.27 per cent, S&P 500 dipped 0.65 per cent while SmallCap 2000 went southward to the tune of 1 per cent.
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