Sensex, Nifty trade tepid after US-China trade talk cancellation; IndusInd Bank, Oberoi Realty, DHFL stocks gain
The BSE Sensex rose 69 points to 40,198 levels while the Nifty-50 index added 16 points to 11,893 levels. Bank Nifty index soared 58 points to 30,124 levels.
Stock Market News: On account of US-China trade deal cancellation and polituical uncertainty in the US on developments in regard to Donald Trump's impeachment, the Indian indices trade side-ways in the Opening Bell trade session. The BSE Sensex rose 69 points to 40,198 levels while the Nifty-50 index added 16 points to 11,893 levels. Bank Nifty index soared 58 points to 30,124 levels.
Speaking on the current market scenario, "The Indian stock market is awaiting profit booking as the market has been surging from pre-Diwali trade sessions. After the F&O expiry yesterday, I am awaiting around 100-150 points correction at Nifty once it touches the 12,000 levels. In my opinion any long dip in the market from now should be considered as a buying opportunity."
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Shares of Laurus Labs, Reliance Infrastructure, Reliance Capital, Dewan Housing Finance Limite or DHFL, Lakshmi Vilas Bank, Indiabulls Real Estate, IndusInd Bank amd Oberoi Realty stocks were among the major gainers while stocks of Bharti Infratel, IOCL, Syndicate Bank, Bharti Airtel, NMDC, Tata Motors, Tata Steel, Glenmark Pharma, ICICI Lombard and Ashok Leyland were among the major losers in the Opening Bell trade session.
Yes Bank stocks witnessed some profit booking after soaring above 24 per cent in previous trade sessions. Yes Bank share price was down 2.77 per cent in the Opening Bell while shares of IndusInd Bank shot up over 1.5 per cent, however, SBI share price went down near 1 per cent.
Among major Asian markets, the Japanese Nikkei is down 0.41 per cent, Hang Seng up 0.52 per cent, Kospi rose 0.51 per cent while the Shanghai markets were up 0.73 per cent in the Opening Bell trade session.
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