Sensex Climbs record high of 41,809; Nifty hits 12,293; Yes Bank, Hero MotoCorp stocks gain
The BSE Sensex opned on higher side and hit its alltime high of 12,809. However, Nifty-50 index was also not a laggard.
The Indian stock market opened on a cautious note, however, maintaining its rally of hitting historical peaks as both Sensex and Nifty opened higher and hit all-time high for fourth straight trade session. The BSE Sensex opened on the higher side and hit its all-time high of 41,809. However, the Nifty-50 index was also not a laggard. The 50-stocks index scaled its another high of 12,293.90 for the fourth straight trade session in the Opening Bell. Bank Nifty gained 94 points and scaled at 32,335 levels in the intraday trade session.
Speaking on the current share market live scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "The market is rising because of the FIIs pumping money into the Indian equity markets. However, the AMC fund managers also indulge in their mutual fund NAV management and hence, I would advise stock market investors to keep booking-profit on rise as the rally may end after 31st December."
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Banking stocks led the bull run at Indian indices as the BSE Bankex shot up 0.41 per cent in the Opening Bell trade session. Banking major Yes Bank share price soared more than 2.5 per cent, State Bank of India or SBI shares shot up 1.6 per cent, ICICI Bank stock price went up 1.32 per cent while Federal Bank stocks edged near half a per cent higher.
Auto stocks also witnessed some fresh buying in the Opening Bell as the BSE Auto index went 0.4 per cent higher. Auto major Hero MotoCorp share price scaled 1.50 per cent while Ashok Leyland, Bajaj Auto, Balkrishna Industries, Bosch, Cummins India, Eicher Motors, Maruti Suzuki India and Tata Motors all opened in the green zone.
Shares of Corporation Bank, Syndicate Bank, UCO Bank, Bharti Infratel, YES Bank, Andhra Bank, DHFL and Allahabad Bank were among the major gainers in the Opening Bell trade session while the shares of CCD, BHEL, JaiprakashAssociates, Vodafone Idea, SpiceJet, Divi's Lab, MMTC and Froce Motors were among the major losers.
Among the major Asian markets, the Japanese Nikkei 225 index was range-bound and ticked near 1 point higher, Kospi index added 0.24 per cent, Hang Seng skyrocketed 124 points in the Opening Bell while the Shanghai markets added near 5 per cent.
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