The stock market of India ended in the green zone after trading sideways throughout the intraday trade. The BSE Sensex added 170 points and closed at 40,286 levels after the Closing Bell trade session while the 50-stock Nifty ticked 31 points higher after closing at 11,872 levels. Bank Nifty index 208 points and closed at 30,749 levels.
Speaking on the current market trends Simi Bhaumik, a SEBI registered technical equity analyst said, "The market has strong support at 11,850 and it seems that the market is consolidating above this levels. If it open above this levels tomorrow then we can expect some fresh upside movement up to 11,930-40 level. However, if it opens below this crucial 11,850 levels then there can be some more bearish trends till 11,730 levels."
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Muthoot Finance share price shot up 9.44 per cent after the Closing Bell. Shares of Dr. Lal Pathlabs, HUDCO, DLF, Ambuja Cements, JK Tyre & Industries, InterGlobe Aviation or IndoGo, ICICI Bank, Federal Bank and Infosys were among the major gainers. Vodafone Idea share price crashed more than 20 per cent in the intraday trade. Stocks of Aurobindo Pharma crashed 8.4 per cent, MMTC shed 7.11 per cent, Spicejet dipped 5.8 per cent, Sterlite Technologie went down 5.2 per cent while Reliance Power nosedived 4.99 per cent.
Banking stocks received fresh buying in the intraday trade session as the BSE Banking index went up 0.77 per cent. Banking major ICICI Bank shares price shot up 2.56 per cent, shares of Federal Bank shot up 2.18 per cent, HDFC Bank shares scaled 1.44 per cent, Yes Bank stocks went up 0.81 per cent while Axis Bank share price rose 0.7 per cent.
Among the major Asian markets, the Japanese Nikkei 225 index shed 0.76 per cent, South Korea's Kospi surged 0.79 per cent, Hang Seng crashed 0.93 per cent while the Shanghai markets added 0.16 per cent in the intraday trade.