Stock Market Today: BSE Sensex, NSe Nifty rise on strong global sentiments; Hindalco Industries, ICICI Bank shares gain
Stock Market Today: On account of strong global sentiments, the Indian indices opened around 0.75 per cent higher in the opening bell trade session.
Stock Market Today: On account of strong global sentiments, the Indian indices opened around 0.75 per cent higher in the opening bell trade session. The BSE Sensex shot up 208 points to 38,490 mark while the NSE Nifty soared 86 points to 11,357 levels. Bank Nifty gained 275 points and hit 22,175 mark.
Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "Market has managed to sustain above 11,250 and it can go up to 11,450 mark because the overall sentiment of the market is still bullish." She said that Bank Nifty has also managed to sustain above 22,100 mark. If it manges to break 22,250 mark and sustain above that level, then we can witness some 400-500 points rally at Bank Nifty as well.
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Metal stocks led the bull run as the BSE Metal index shot up over 1 per cent in the early morning trade session. Metal major Hindalco Industries share price shot up 3.47 per cent, Steel Authority of India Ltd or SAIL shares soared 3.29 per cent, shares of Tata Steel went northward 2.06 per cent, National Aluminium Company Ltd. or NALCO stock price rose 2.16 per cent while JSW Steel counter escalated 2.55 per cent.
Banking stocks also witnessed some fresh buying in the early morning trade session. Banking major ICICI Bank share price rose 2.49 per cent, Axis Bank shares soared 2.51 per cent, shares of IndusInd Bank went northward 1.34 per cent while State Bank of India or SBI shares rose 1.24 per cent.
Among the major asian markets, the Japanese Nikkei 225 index shot up 1.75 per cent, South Korean Kospi roared 1.66 per cent, Hong Kong's Hang Seng skyrocketed2.44 per cent while the Shanghai index added 0.33 per cent in the opening bell trade session.
At the Wall Street yesterday, Dow Jones rose 1.30 per cent, Nasdaq shed 0.39 per cent, SmallCap 2000 rose 1.03 per cent while S&P 500 added 0.27 per cent.
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