Sensex, Nifty rise amid DII's profit-booking; MTNL, Suzlon Energy, NALCO stocks gain
The BSE Sensex ticked 41 points higher at 41,393 levels while the Nifty-50 index went 16 points up at 12,181 levels. Bank Nifty index soared 18 points at 32,158 levels.
The stock market of India continues its rally on positive FIIs sentiment, however, DIIs went negative and started profit-booking in the Opening Bell trade session. The BSE Sensex ticked 41 points higher at 41,393 levels while the Nifty-50 index went 16 points up at 12,181 levels. Bank Nifty index soared 18 points at 32,158 levels.
Speaking on the current Indian share market Simi Bhaumik, a SEBI registered technical equity analyst said, "Overall the market is bullish. Nifty is trading in the range of 11,970 to 12,250 to 12,300 and it seems that it is heading in the upward direction and can hit 12,250 to 12,300 levels in next few trade sessions." Asked about the major reason for the rise in the Indian indices, Simi Bhaumik said that Auto, Pharma and Banking stocks, especially private bank shares are poised for an upside swing that they will lift the major Indian indices in coming trade sessions.
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Telecom stocsk led the bull run in Opening Bell trade session as the BSE Telecom index surged 1.70 per cent. Telecom major Reliance Communications share price shot up 4.71 per cent, GTPL Hathway shares soared 2.10 per cent, MTNL or Mahanagar Telephone Nigam Ltd shares shot up 2.61 per cent while Vodafone Idea shed 4.35 per cent.
DHFL share price skyrocketed 4.95 per cent in the Opening Bell trade session. Shares of Reliance Infrastructure, Reliance Capital, Coffee Day Enterprise or CCD, Reliance Power, National Aluminium corporation or NALCO were among the major gainers while shares of PC Jeweller, Vodafone Idea, Union Bank of India, Bank of Baroda, PNB Housing Finance, SREI Infrastructure. Voltas were among the major losers in the intraday trade.
Among the major Asian markets, the Japanese Nikkei 225 index shed 108 points, South Koran Kospi ticked 0.02 per cent lower, Hang Seng edged near 6 per cent higher while the Shanghai Index shed 0.08 per cent.
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