Stock Market Today: Sensex, Nifty rise on Wall Street rally; auto, banking and financial stocks gain
Stock Market Today: The BSE Sensex rose 141 points to 30,959 levels while the NSE Nifty added 38 points and hit 9,105 levels. Bank Nifty index went up 183 points to 18,023 levels.
Stock Market Today: On account of positive domestic institutional investors (DIIs) and rise at Wall Street indices, the Indian indices opened on the higher side in the opening bell trade session. The BSE Sensex rose 141 points to 30,959 levels while the NSE Nifty added 38 points and hit 9,105 levels. Bank Nifty index went up 183 points to 18,023 levels. Banking and finance, consumer goods, healthcare, auto and realty stocks were among the major gainers in the early morning trade session.
Giving an outlook of the Indian stock market Prakash Pandey, MD & CEO at Plutus Advisors said, "Market is trading higher because of the positie DII sentiments and rally in Wall Street indices yesterday. Overall, Nifty is trading in the range of 8,900 to 9,100 and in the opening bell it has broken the 9,100 resistance. If the NSE Nifty sustains above this level, then we can expect it to hit 9,380 levels soon."
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Shares of Reliance Industries or RIL, SBI, ICICI Bank, HDFC Bank, Axis Bank, Bharti Airtel, Bajaj Auto, Cipla and IndiGo were among the most trending stocks in the opening bell trade session while shares of Housing Development Finance, Jubilant Foodworks, Dr. Reddy's Labs, Reliance Industries and ICICI Bank were among the mosat active stocks in the early morning trade session.
Auto stocks led the bull run on Dalal Street as the BSE Auto index soared over 2 per cent in the opening bell trade session. Auto major Bajaj Auto share price skyrocketed 5.25 per cent in the opening bell session, Bharat Forge rose 2.15 per cent, Hero MotoCorp stocks went up over 3.5 per cent, TVS Motor Company counter soared 2.91 per cent while Tata Motors and Motherson Sumi Systems rose around 0.95 per cent.
Among nthe major Asian indices, the Japanese Nikkei 225 index shed 0.37 per cent, Kospi added 0.35 per cent, Hong Kong's Hang SEng was down 0.15 per cent while Shanghai market was up 0.12 per cent.
On Wall Street, the Dow Jones Industrial Average rose 1.52%, the S&P 500 gained 1.67%, and the Nasdaq Composite added 2.08%.
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