Stock Market: Sensex, Nifty rise on Chinese rate cut decision; Vodafone Idea, Central Bank, BPCL stocks gain
The BSE Sensex rose 148 points at 40,504 levels while the Nifty-50 index added 35 points to 11,931 levels. The bank Nifty index soared 143 points after scaling 31,151 levels.
Stock Market News: On account of progress in US-China trade talks and China surprising the markets by cutting its key interest rates for the first time since 2015, the Indian indices inched higher following the Asian and other global bourses. The BSE Sensex rose 148 points at 40,504 levels while the Nifty-50 index added 35 points to 11,931 levels. The bank Nifty index soared 143 points after scaling 31,151 levels.
Speaking on the current share market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "Overall the market is bullish. Nifty has sustained above the 11,850 levels indicating it's poised to hit 12,000 levels. If the Nifty sustains above 11,950 then we can expect it to hit 12,000 levels and even hit 12,100."
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Shares of Vodafone Idea, Central Bank, Lakshmi Vilas Bank, NBCC (India), Bharat Petroleum Corporation Limited or BPCL, Corporation Bank and ITI were among the major gainers in the Opening Bell while shares of Reliance Capital, Dewan Housing Finance Limited or DHFL, Reliance Power, Fortis Healthcare, GAIL (India) and PNB Housing Finance were among the major losers in the Opening Bell trade session on Monday.
Telecom stocks led the bull run on Dalal Street as the BSE Telecom index soared over 3 per cent in the Opening Bell trade session. Telecom major Vodafone Idea share price skyrockted over 20 per cent in the morning trade session, shares of GTPL Hathway shot up 4.9 per cent, Bharti Airtel shares scaled 2.95 per cent, Bharti Infratel stocks rose 1.38 per cent while Tejas Networks added 2.58 per cent.
Among the major Asian markets, the Japanese Nikkei 225 index added 0.40 per cent, Kospi shed 0.26 per cent, Hang Seng soared 1.12 per cent while the Shanghai index went up 0.58 per cent in the Opening Bell trade session.
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