Stock Market Today: Sensex rises 289 points, Nifty above 9,900; Auto, telecom, healthcare stocks gain
Stock Market Today: The BSE Sensex rose 289 points to 33,592 levels while the NSE Nifty surged 82 points to 9,908 levels. Bank Nifty index shot up 150 points to 20,110 levels.
Stock Market Today: On account of strong global cues and positive domestic institutional investors (DIIs) the Indian indices extended its rally in the opening bell trade session. The BSE Sensex rose 289 points to 33,592 levels while the NSE Nifty surged 82 points to 9,908 levels. Bank Nifty index shot up 150 points to 20,110 levels. Auto, telecom, healthcare stocks were among the major gainers in the opening bell trade session.
Speaking on the current market scenario, Simi Bhaumik, a SEBI registered technical equity analyst said, "Nifty is facing resistance at 9,950 to 10,000 levels. Since, the markets have been rising without any profit-booking, I would advise stock market investors to either wait for the profit booking before the NSE Nifty breaches 10,000 levels or they should take fresh buy position when the Nifty sustains above 10,100 levels."
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Shares of SBI, Reliance Industries, Axis Bank, HDFC Bank, ICICI Bank, Tata Motors, Housing Development Finance, Indian Oil, IndusInd Bank and Tata Steel were among they most trending stocks in the opening bell trade session while shares of Kotak Mahindra Bank, Bajaj Finance, Bharti Airtel and Coromandel Int were among the most active stocks in the early morning trade session.
Auto stocks witnessed maximum fresh buying as the BSE Auto index soared over 1.5 per cent in the early morning trade session. Auto major TVS Motor Company share price soared 4.36 per cent, Tata Motors shares shot up 2.85 per cent, shares of Mahindra & Mahindra rose 2.43 per cent, Bosch stock price added 2.70 per cent, Eicher Motors stocks went northward 2.4 per cent while Ashok Leyland shares added 1.18 per cent.
Telecom stocks also witnessed some buying trends in the opening bell as the BSE Telecom index added 1.22 per cent in the early morning trade session. Telecom major Vodafone Idea share price rose 2.74 per cent, Optiemus Infracom shares surged 4.47 per cent, shares of Mahanagar Telephone Nigam Ltd or MTNL rose 3.92 per cent while Reliance Communications share price shed over 2.5 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index shot up 1.23 per cent, South Korean Kospi soared 0.76 per cent, Hoing Kong's Hang Seng rose 0.50 per cent while the Shanghai index shed 0.11 per cent.
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