Stock Market Today: Sensex, Nifty rise on Donald Trump's pro-active approach on oil price crash; Energy, auto stocks gain
BSE Sensex rose 742 points and closed at 31,379 levels while the NSE Nifty gained 214 points and closed at 9,195 levels. Bank Nifty index soared 335 points and closed at 19,745 levels.
Stock Market Today: On accounty of the US President Donald Trump's pro-active approach on crashing oil prices, the Indian indices ended in the green zone with massive 2.5 per cent gains. The BSE Sensex rose 742 points and closed at 31,379 levels while the NSE Nifty gained 214 points and closed at 9,195 levels. Bank Nifty index soared 335 points and closed at 19,745 levels.
Speaking on the current market scenario, Prakash Pandey, MD & CEO at Plutus Advisors said, "Overall the market sentiment is linked with Wall Street perormance. Currently, the rise is because of the recovery in the WTI Crude oil prices but it can be short-lived as due to the lockdown demand for oil has gone down drastically. Currently, Nifty has immediate support at 8,850 and has strong support at 8,555. It is facing resistance at 9,200 levels."
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Shares of Reliance Industries or RIL, SBI, Tata Motors, Bajaj Finance, ICICI Bank, HDFC Bank, ONGC, Aurobindo Pharma and Axis Bank were among the m ost trending stocks throughout the intraday trade session while shares of IndusInd Bank, Maruti Suzuki, Bharti Airtel were among the most active stocks in the intraday trade session.
Energy stocks skyrocketed after the White House took some pro-active approach towards the recent WTI oul price crash. Energy major and Sensex heavyweight Reliance Industries share price skyrocketed 9.91 per cent, Petronet LNG shares soared 3.42 pe cent, shares of Gujarat Gas rose 7.49 per cent, Deep Industries stock price added 2.57 per cent while Coal India counter rose around 1.77 per cent.
Auto stocks also witnessed some fresh buying in the intraday trade session. The BSE Auto index rose around 2.5 per cent. Auto major Bosch share price rose 4.52 per cent, Maruti Suzuki India shares soared 3.29 per cent, Hero MotoCorp stocks rose 3.17 per cent, Motherson Sumi Systems counter added near 2.08 per cent, Exide Industries stocks shot up 4.25 per cent while Ashok Leyland share price rose 2.49 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index shed 0.74 per cent, South Korean Kospi added 0.89 per cent, Hang Seng scaled up 0.42 per cent hile the Shanghai Composite Index went up 0.67 per cent.
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