Stock Market Today: On account of strong global cues coming in on hopes of ease in lockdown in many countries and rise in Wall Street and other borses, the Indian indices opened on the highe side today. The BSE Sensex was up 216 points and near to 32,000 as it was trading at 31,959 levels. NSE Nifty went up 69 points and hit 9,353 levels. Bank Nifty gained 428 points at 20,509 levels.

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Elaborating upon the current share market Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "The market is trading in the range of 9,000 to 9,500. If Nifty manages to break the upper range then we can expect it to appreciate up to 10,000 levels at a faster rate. However, 9,000 levels will be make or break for the markets in coming trade sessions." Singre said that if NSE Nifty manges to sustain above 9,500 then auto stocks may shine in the next few trade sessions.

Sameet Chavan, Chief Analyst -Technical and Derivatives at Angel Broking said, “Today, our markets kickstarted the new trading week with a good bump up of more than 100 points in Nifty. In fact, the buying momentum accelerated right from the word go and during the first half, Nifty hastened beyond the 9350 mark. However, once again the Nifty struggled to pass through the stiff hurdle of 9400 and hence, due to some profit taking, the index closed tad below 9300. We have been mentioning since last few days that the market has slipped into a consolidation mode and hence, despite valiant attempts around 9400, the Nifty is unable to traverse this sturdy wall. It appears that the market is awaiting for some strong trigger to come out of this recent congestion. In our sense, if Nifty has to give a breakout, it should happen in next 2-3 sessions. If it fails to do so we may see long consolidation (due to lower market participation) or it would result into a decline towards 9000-8900 levels. Thus next couple of sessions would be quite crucial for our markets.”

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Shares of Reliance Industries, SBI, IndusInd Bank, Axis Bank, Tata Motors, Bajaj Finance, ICICI Bank, Ambuja Cements, RBL Bank and Sun Pharma were among the most trending stocks in the intraday trading session while shares of HDFC Bank, Kotak Mahindra Bank, Housing Development Finance, Cipla and Sun Pharma were among the most active stocks in the opening bell trade session.

Banking stocks led the bull run on Dalal Street as the BSE Banking index rose around 2 per cent in the early morning trade session. Banking major IndusInd Bank share price shot up 9.99 per cent, RBL Bank shares scaled up around 7 per cent, shares of Axis Bank went up 3.91 per cent, ICICI Bank stock price went northward near 2 per cent, City Union Bank stocks added 2.25 per cent while Kotak Mahindra Bank scrip rose 1.54 per cent.

Auto stocks also witnessed some fresh buying in the early morning trade session. Auto major Tata Motors share price shot up 2.72 per cent, Motherson Sumi Systems shares rose 1.89 per cent, shares of Eicher Motors added 1.80 per cent, Ashok Leyland stock price went up 1.24 per cent while Bosch counter added around 0.9 per cent.

Among the major Asian indices, the Japandse Nikkei 225 index was down 0.56 per cent, Hang Seng was up 0.64 per cent, South Korean Kospi added 0.09 per cent while Shanghai index went northward 0.11 per cent.