Stock Market News: Sensex, Nifty rise on progress in US-China trade talks; Tata Motors, ITI stocks gain
Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "This sharp rise in the Indian indices is because of the progress in the China-US trade talks. Overall the market is bullish and trading in the range of 11,510 to 11,730. I advise stock market invsestors to maintain buy on dips strategy."
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Shares of Andhra Bank, Birlasoft, Reliance Infrastructure, Tata Motors, ITI, IDBI Bank, National Aluminium Corporation Limited or NALCO, JSW Steel and Tata Power were among the major gainers while the stocks of Dewan Housing Finance Limited or DHFL, Lakshmi Vilas Bank, IndiGo, Reliance Power, Bharti Airtel, Vodafone Idea, PC Jeweller, Yes Bank and Suzlon Energy were among the major losers in the Opening Bell.
Energy stocks led the bull run on Dalal Street as the BSE Energy index shot up 0.67 per cent in the Opening Bell. Energy major and Sensex heavyweight Reliance Industries Limited or RIL share price shot up over 1 per cent, shares of Jindal Drilling & Industries shot up over 5.7 per cent, Hindustan Petroleum Corporation Ltd or HPCL counter added 1.37 per cent while GOCL Corporation counter went northward 5.24 per cent.
Among major Asian markets, the Japanese Nikkei was up 0.32 per cent, South Korean Kospi went down 0.15 per cent, Hang Seng declined 0.24 per cent while the Shanghai markets crashed 0.40 per cent in the early morning trade session.
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