Stock Market Today: Sensex regains 37K, Nifty climbs 11K; MCX, DHFL, Yes Bank stocks gain
If the Nifty sustains above 11,000 levels in tomorrow's opening bell, the stock market investors can expect further upside momentum of around 150-200 points, say stock market experts.
Stock Market Today: On account of fresh buying by the foreign institutional investors (FIIs) and domestic institutional investors (DIIs) responding positively to them, the Indian indices witnessed fresh momentum and both Sensex and Nifty regained the psychological levels of 37,000 and 11,000 levels. The BSE Sensex shot up 163 points and closed at 37,145 levels after the closing bell session. The 50-stock Nifty gained 56 points after closing at 11,003 levels. The Bank Nifty index soar 256 points and closed at 27,504 levels.
Speaking on the current market scenario Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "If the Nifty sustains above 11,000 levels in tomorrow's opening bell, the stock market investors can expect further upside momentum of around 150-200 points." He said that stocks like HDFC Bank, ICICI Bank, Reliance Industries, L&T, Bajaj Auto, Hero MotoCorp stocks are expected to outperform other stocks at Nifty.
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Shankara Building, Dilip Buildcon, MCX, DHFL, SREI Infrastructure, RBL Bank and Yes Bank stocks were among the major gaining shares after the closing bell while Suzlon Energy, JaiprakashAssociates, Equitas Holdings, SBI Life Insurance, Lakshmi Vilas Bank and Ashok Leyland shares were among the major losing stocks in the intraday trade.
Telecom stocks led the bull run at Dalal Street today as the BSE Telecom index shot up 1.75 per cent. Telecom major Vodafone Idea share price shot up 3.09 per cent, shares of Vindhya Telelinks soared 4.1 per cent, Reliance Communications stock price appreciated 4.11 per cent, Sterlite Technologies stocks went up 2.6 per cent, Mahanagar Telephone Nigam Ltd or MTNL scaled 4.73 per cent while Bharti Airtel counter added 2.36 per cent.
Banking stocks also witnessed fresh buying in the intraday trade session as the BSE Banking index went up around 0.95 per cent. Banking major YES Bank share price went up 4.22 per cent, shares o RBL Bank skyrocketed 7.2 per cent, Federal Bank shares scaled 3.79 per cent, Kotak Mahindra Bank counter went up around 2 per cent while ICICI Bank rose 1.15 per cent.
Among major Asian indices, the Japanese Nikkei 225 index rose 0.56 per cent, South Korea's Kospi added 0.52 per cent, Hang Seng ticked 0.04 per cent down while the Shanghai market went up 0.84 per cent.