Stock Market Today: Sensex, Nifty rise on strong global cues; Central Bank, Bharti Airtel shares rise
Stock Market Today: The BSE Sensex surged 191 points and hit 38,262 mark while the NSE Nifty shot up 55 points to 11,258 levels. Bank Nifty index escalated 93 points and hit 2,169 mark.
Stock Market Today: On account of strong global cue post-US Fed dovish stance on the interest rate, the indian indices opened in the green zone in the opening bell. The BSE Sensex surged 191 points and hit 38,262 mark while the NSE Nifty shot up 55 points to 11,258 levels. Bank Nifty index escalated 93 points and hit 2,169 mark.
Speaking on the current market scenario Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Overall the market trend is bullish. The NSE Nifty has opened above 11,250 and if the 50-stocks index manages to sustain above this 11,250 levels, then we can expect it to go up to 11,400 to 11,500 mark in next few trade sessions." He said that Bank Nifty is in strong support zone at 21,500 to 22,000 levels and one should continue with buy on dips strategy till NSE Nifty is above 11,000 levels and Bank Nifty is above 21,500 mark.
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Shares of Shoppers Stop, Central Bank, Omaxe, IDBI Bank, JaiprakashAssociates, Future Retail, Phoenix Mills and Wipro were among the leading gainers in the intraday trade session while shares of Inox Leisure, Hathway Cable & Data, Reliance Power, Bharat Petroleum, Manappuram Finance, PVR, Reliance Capital, Reliance Infrastructure and Hindustan Petroleum were among the leading losers in the opening bell.
IT stocks led the bull run in the early morning trade session as the BSE IT index shot up to the tune of 1.65 per cent. IT major Mastek share price shot up 7.28 per cent, Majesco shares rose 5 per cent, shares of Ramco Systems soared near 2 per cent, Wipro stock price rose 2.55 per cent while Tata Consultancy Services or TCS rose 1.36 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index shed around 0.08 per cent, south Korean Kospi added 0.25 per cent, Hong Kong's Hang Seng scaled up 1.29 per cent while the Shanghai index soared 0.09 per cent.
At Wall Street on Wednesday, Dow Jones went up 0.61 per cent, Nasdaq skyrocketed 1.35 per cent, S&P 500 went northward 1.24 per cent while SmallCap 2000 shot up to the tune of 2.03 per cent.
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