Stock Market Today: Sensex, Nifty rise on development in China-US trade talks; Tata Steel, Tata Communications, NTPC stocks gain
The BSE Sensex gained 152 points to 36,876 while the Nifty index gained 55 points to 10,900. The Bank Nifty index 81 points to 27,205 levels in the opening bell.
Stock Market Today: On account of strong global cues, the Indian indices went up in the opening bell session. The positive sentiment in the global markets including Indian indices is because of the development in US-China trade talks. The BSE Sensex gained 152 points to 36,876 while the Nifty index gained 55 points to 10,900. The Bank Nifty index 81 points to 27,205 levels in the opening bell.
Speaking on the Indian stock market today's outlook Prakash Pandey, MD and CEo at Plutus said, "Since the NBifty has opened above 10,850 and seems to sustain above the 10.850 levels. Share market investors can expect some recovery in the Indian markets as there are some positive developments in the US-China trade talks and both nations are again sitting in the month of October to discuss their trade issues that have marred the global markets in recent few years."
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JaiprakashAssociates, CG Power and Industries, Coal India, NTPC, Tata Steel and Tata Communications stocks were among the major gainers in the opening bell while Cox & Kings, Coffee Day Enterprise or CCD, Reliance Communications, LIC Housing Finance and MCX share price were among the top losing stocks in the morning trade session.
Metal stocks led the bull run on Dalal Street as the BSE metal index soared 2.89 per cent from its previous close. Metal major Tata Steel share price shot up 3.08 per cent, shares of Vedanta soar 3.14 per cent, National Aluminium Company or NALCO share price scaled 4.44 per cent, NDMC and Jindal Steel & Power stocks added around 2.2 per cent while JSW Steel share price went up near 3 per cent.
Among the Asian markets, the Japanese Nikkei 225 index soar 2.24 per cent, South Korean Kospi shot up 1.25 per cent, Hang Seng edged 0.41 per cent higher while the Shanghai market went 1.56 per cent down.