Sensex scales life-time high; DHFL, Vedanta, Equitas Holdings stocks gain
The BSE Sensex rose 117 points to 41,056 levels while the Nifty-50 index added 28 points and regained the psychological 12,000 levels after scaling at 12,082 levels.
Following Wall Street and other global markets, the stock market of India rose on US-China trade optimism. The BSE Sensex shot up over 300 points to its life-time high of 41,262 levels while the Nifty-50 index surged 88 points to 12,142 levels. Bank Nifty also regained the psychological 32,000 levels by adding over 200 points in the Opening Bell trade session and climbing at 32,205 levels.
Speaking on the current stock market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Nifty is trading in the range of 11,970 to 12,190. The bullish or bearish trend will be decided on the breakage of either side of the range. However, on trade optimism coming in from the US-China trade talks, the market is overall bullish and I would advise share market traders to adopt buy on dips strategy."
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Auto stocks led the bull run on Dalal Street as the BSE Auto index went up to the tune of near 0.60 per cent. Auto major Maruti Suzuki India share price scaled 1.58 per cent, shares of Bosch went up 1.45 per cent, Tata Motors shares rose 0.63 per cent, Apollo Tyres counter added around 0.67 per cent while Eicher Motors stock price added aound 0.85 per cent in the Opening Bell trade session.
It stocks also witnessed fresh buying in the Opening Bell trade session as the BSE IT index went up around 0.53 per cent. IT major Ramco Systems share price skyrocketed 4.85 per cent, NIIT Technologies shares shot up 4.23 per cent, Infosys stocks added 0.63 per cent while the TCS share price went up 0.70 per cent.
Among the major Asian markets, the Japanese Nikkei 225 index soared 116 points to 24,069 levels while the South Korean Kospi surged 1.12 per cent to 2,192 levels, Hang Seng climbed 322 points to 27,832 levels while the Shanghai markets 0.97 per cent to 3,013 levels.
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