Sensex above 41,000, Nifty regains 12K; Vedanta, Infosys, DHFL stocks gain
The BSE Sensex regained 41,000 levels after logging 428 points gain while the Nifty-50 index shot up 114 points and closed at 12,086 levels. Bank Nifty index regained the psychological 32,000 levels after closing at 32,014 levels — above 348 points from its previous closing.
The stock market of India scaled on the US-China trade talks positive hopes. The BSE Sensex regained 41,000 levels after logging 428 points gain while the Nifty-50 index shot up 114 points and closed at 12,086 levels. Bank Nifty index regained the psychological 32,000 levels after closing at 32,014 levels — above 348 points from its previous closing.
Speaking on the Indian share market outlook Prakash Pandey, MD & CEO at Plutus Advisors said, "This rise is mainly due to the positive speculations in regard to the US-China trade talks scheduled on 15th December 2019." He said that since, majority of the indices have closed above the psychological levels as Sensex closed above 41,000, Nifty above 12,000 and Bank Nifty above 32,000 levels, we can expect further upside momentum in the coming few trade sessions.
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After receiving a heavy beating on yesterday, Infosys share price finally appreciated and gained the lost ground today. This could happen after the Infosys management issued a statement citing they are not aware of any additional US lawsuit, except the complaint they received in October 2019. The Infosys share price surged 1.34 per cent and closed at Rs 711.25 per stock levels.
Metal stocks led the bull run at Dalal Street as the BSE Metal index shot up 2.30 per cent after the Closing Bell. Metal major Vedanta share price soared 3.75 per cent, Hindalco Industries shares skyrocketed 3.63 per cent, shares of Tata Steel went up 2.39 per cent, Steel Authority of India or SAIL stocks surged near 2 per cent while the shares of JSW Steel went northward 1.13 per cent.
Among the major Asian markets, the Japanese Nikkei 225 index skyrocketed 598 points from its Thursday close, Kospi surged 1.54 per cent, Hang Seng soared 693 points while the Shanghai markets shot up 51 points.