Stock Market Today: On account of Wall Street rally and strong Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs), the Indian indices opened on the higher side after heavy beating yesterday. The BSE Sensex soared 437 points and hit 32,153 levels while the NSE Nifty shot up 122 points and hit 9,416 levels. Bank Nifty index surged 347 points to 20,091 levels. Banking, auto and metal stocks led the bull run on Dalal Street in the opening bell trade session.

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Speaking on the current market scenario; Prakash Pandey, MD & CEO at Plutus Advisors said, "This rise in Indian indices can be attributed mainly to the Wall Street rally yesterday. This rally in the US stock market pumped the morale of both FIIs and DIIs that triggered fresh buying in banking, metal and auto stocks."

Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking said, "On Friday, the US president Donald Trump threatened China to impose new tariff, which spooked market participants across the globe. This development triggered sell off in all global peers and was reflected in SGX Nifty too. In line with this, our markets started new trading week with a massive gap down of 400 points. In fact, the selling momentum continued throughout the remaining part of the day to eventually conclude tad below the 9300 mark by shedding more than 550 points. In our previous article, we had mentioned a support zone at 9300-9100 and yesterday we saw Nifty closing at the first support level. Importantly, the INDIA VIX which has cooled off considerably in the recent past, again saw a notable spike to close around the 44 mark. Going ahead, all eyes would be on further development with respect to Donald Trump’s threat. In case of further escalation, we may see Nifty correcting towards 9100 - 9000; whereas on the flipside, 9390 followed by 9450 would be seen as immediate hurdles. As of now, we hope things do not worsen from here and Nifty manages to find support in the zone of 9250-9200 levels." He said that traders are advised to stay light and keep a close eye on above mentioned scenarios. At present, individual stocks are providing good trading opportunities and hence, it’s advisable to focus on such potential candidates.

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Shares of Reliance Industries, SBI, ICICI Bank, Tata Motors, HDFC Bank, Bharti Airtel, Axis Bank, Bajaj Finance, Cipla and HUL were among the most trending stocks in the intraday trade session while shares of Aurobindo Pharma, Housing Development Finance, Reliance Industries and Bharti Airtel were among the most active stocks in the intraday trade session.

Banking stocks received maxium fresh buying as the BSE Banking index shot up to the tune of 1.5 per cent in the opening bell trade session. Banking major IndusInd Bank share price rose 2.33 per cent, ICICI Bank shares rose 2.13 per cent, shares of City Union Bank went up 2.81 per cent, Axis Bank stock price escalated 1.74 per cent, RBL Bank stock price shot up 3.10 pe cent while State Bank of India or SBI stocks went up around 0.56 per cent.

In metal sector, Jindal Steel & Power share price soared 2.81 per cent, Vedanta shares shot up 2.13 per cent, shares of Hindalco Industries and JSW Steel escalated around 1.75 per cent, Steel Authority of India Limited or SAIL stock price rose 1.72 per cent while NMDC counter added 1.88 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index shed 2.84 per cent, Kospi went down 2.68 per cent, Hang Seng went up 0.60 per cent.

At Wall Street yesterday, Dow 30 rose 0.11 per cent, Nasdaq skyrocketed 1.23 per cent, S&P 500 index added 0.42 per cent while SmallCap 2000 gained 0.18 per cent.