Stock Market News: Sensex, Nifty regain momentum post-profit-booking; Yes Bank, ITI, Vodafone Idea stocks gain
The BSE Sensex rose 21 points and closed at 40,345 levels while the 50-stock Nifty added 5 points and closed at 11,913 levels.
Stock Market News: On account of positive FIIs and strong DIIs, the Indian indices regained momentum after the profit-booking on Friday and in Opening Bell today. The BSE Sensex rose 21 points and closed at 40,345 levels while the 50-stock Nifty added 5 points and closed at 11,913 levels. The Bank Nifty index rose 366 points and closed at 31,115 levels.
Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "The Nifty has strong support at 11,850 levels. It has strong resistance at 12,000 levels. Once it breaches either side of the levels, then only we will be able to say whether the market is bullish or bearish. However, I would like to add that in the current market scenario, I won't see any reason for Nifty breaking the 11,670 levels on downside and 12,050 on the upper side without any fresh trigger."
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Shares of Adani Green Energy, ITI, Vodafone Idea, RBL Bank, Yes Bank, Indiabulls Real Estate, Dewan Housing Finance Limited or DHFL, Ashok Leyland and Fortis Healthcare were among the major gainers after the Closing Bell trade session on Monday while shares of Equitas Holdings, Reliance Infrastructure, Reliance Power, Lakshmi Vilas Bank, Reliance Capital, Tata Power and Suzlon Energy were among the major losers in the intraday trade today.
Banking stocks led the bull run on Dalal Street in the intraday trade. The BSE Bankex shot up 1.22 per cent in the intraday trade as the banking major Yes Bank share price shot up 5.65 per cent, RBL Bank shares scaled 6.38 per cent, ICICI Bank stocks soared 1.71 per cent, shares of IndusInd Bank added 1.58 per cent, Federal Bank counter went up 1.34 per cent while the Axis Bank stock price went northward 1.14 per cent.
Among the major Asian markets, the Japanese Nikkei 225 index shed 0.26 per cent, South Korean Kospi crashed 0.61 per cent, Hang Seng nosedived 2.62 per cent while the Sanghai market slipped 1.83 per cent.