Stock Market Today: Sensex, Nifty soar near 5.75% on International Day of Happiness; ONGC, Tata Steel, ITI stocks gain
Stock Market Today: BSE Sensex shot up 1627 points and closed at 29,915 levels while NSE Nifty soared 482 points and closed at 8,745 levels.
Stock Market Today: On account of strong global cues post-Wall Street rebound, the Indian Indices surged around 5.75 per cent on World Happiness Day. The BSE Sensex shot up 1627 points and closed at 29,915 levels while NSE Nifty soared 482 points and closed at 8,745 levels. This rise in the Indian indices was mainly due to the fresh buying in energy, oil and gas and metal stocks. Bank Nifty continued to feel the selloff heat but ended up finally at 20,317 levels — 234 points up from its yesterday's closing.
Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Nifty has closed above 8,550 which was working as a hurdle for it earlier. But, still, I would advise stock market investors to book profit on every 6-7 per cent bounceback and avoid any kind of shot-selling in the current market scenario. Coming trade session in march 2020 are crucial and are expected to remain volatile."
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Shares of Yes Bank, SBI, Reliance Industries, HDFC Bank, Tata Motors, ITC, Indiabulls, Oil & Natural Gas and ICICI Bank were among the most trending stocks throughout the intraday trade while shares of Housing Development Finance, Bajaj Finance, TCS, Kotak Mahindra Bank, Axis Bank and Infosys were among the most active stocks in the intraday trade session.
Energy stocks led the bull run on Dalal Street as the BSE Energy index soared to the tune of 9.96 per cent in the intraday trade session. Energy major and Sensex heavyweight Reliance Industries share price skyrocketed 11.24 per cent, ONGC shares soared 18.58 per cent, Hindustan Petroleum Corporation Ltd or HPCL shares scaled 9.73 per cent, Bharat Petroleum Corporation Ltd or BPCL stock price escalated over 6 per cent while Indian Oil Corporation Ltd or IOCL stocks went up near 3 per cent.
Metal stocks also witnessed some fresh buying in the intraday trade session. Metal major Tata Steel share price skyrocketed 9.6 per cent, Vedanta shares shot up 8.73 per cent, Steel Authority of India Limited or SAIL and National Aluminum Company or NALCO stocks rose over 6 per cent, Jindal Steel & Power stock price scaled 14.35 per cent while Hindustan Zinc counter rose over 7 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index went down 1.04 per cent, South Korean Kospi index skyrocketed 7.44 per cent, Hang Seng shot up 5.05 per cent while Shanghai index added 1.61 per cent in the intraday trade session.
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