Stock Market Today: BSE Sensex rises 223 points, NSE Nifty above 9,550; DLF, Vedanta stocks gain
Stock Market Today: BSE Sensex rose 23 points and closed at 32,424 levels while the NSE Nifty shot up 90 points and closed at 9,580 levels. Bank Nifty index added 127 points after closing at 19,297 levels.
Stock Market Today: On account of positive domestic institutional investors (DIIs), the Indian indices continued its rally in the intraday trade as the BSE Sensex rose 23 points and closed at 32,424 levels while the NSE Nifty shot up 90 points and closed at 9,580 levels. Bank Nifty index added 127 points after closing at 19,297 levels.
Speaking on the current market scenario; Simi Bhaumik, a SEBI registered technical equity analyst said, "Market is oerall bullish but one should not take any fresh buy position as ther can be corrention in the market after profit-booking trigger. I asvise investors to take any fresh buy position when the NSE Nifty reaches around 9,300 to 9,350 levels." She said that healthcare, IT and to some extent auto stocks can be the major beneficiaries in the next market rally.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "Nifty as per weekly chart formed a long bull candle, which was after the formation of bullish hammer type candle pattern of last week. This could be an indication of near term bottom reversal at the swing low of 8,806. The short term trend of Nifty continues to be positive. The next upside levels to be watched around 9,750 to 9,800 in coming sessions. Any downward correction towards 9400 could be a buy on dips opportunity for the next week."
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Shares of Vodafone Idea, sBI, Reliance Industries, Axis Bank, HDFC Bank, ICICI Bank, ITC, Sun Pharma and Bharti Airtel were among the most trending stocks in the intraday trade session while shares of Housing Development Finance, Tata Consumer Products, Torrent Pharma and Infosys were among the most active stocks in the intraday trade session.
Realty stocks attracted maximum fresh buyinhg as the BSE Realty index shot up 4.5 per cent today. Realty major DLF share price skyrocketed 4.68 per cent, Housing Development & Infrastructure shares rose 4.55 per cent, shares of Oberoi Realty added 4.37 per cent, Phoenix Mills stock price surged 8.14 per cent while Prestige Estates Projects stocks shot up 8.30 per cent.
Metal sector stocks also witnessed some fresh buying in the intraday trade session. Metal major Vedanta share price escalated 2.45 per cent, NMDC shares rose 2.78 per cent, shares of Hindustan Zinc shot up near 2 per cent while Jindal Steel & Power stocks added 1.85 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index shed 0.18 per cent, South Korean Kospi added 0.05 per cent, Hong Kong's hang Seng went down 0.74 per cent while Shanghai index rose 0.22 per cent.
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