Closing Bell: Sensex, Nifty extends pre-budget rally; ONGC, Adani Power, Aptech stocks gain

The stock market of India extended its pre-budget rally on the third straight day as the BSE Sensex gained 129 points after closing at 39,816 levels while the 50-stock Nifty added 44 points and closed at 11,910 levels. the index Bank Nifty lost 88 points and closed at 31,283 levels. Adani Green Energy, Adani Power, Ipca Laboratories, Adani Transmission and Manpasand Beverage stocks were the top five gaining shares in the intraday while Godrej Properties, Yes Bank, Quess Corp, Allahabad Bank and Corporation Bank shares were the top five losing stocks today.

Speaking on the market outlook Simi Bhaumik, a SEBI registered technical stock analyst told Zee Business Online, "The market is overall bullish and I am expecting it to touch 12,100 to 12,300 levels before the budget 2019 as Nifty has strong support base at 11,790 levels. At Bank Nifty, 31,100 seems strong support and we can expect some fresh buying in the banking shares post-budget 2019."

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Oil and Gas stocks led the bull run on Dalal Street today as the BSE Ol and Gas index added 1.16 per cent in the intraday trade. Oil and Gas major ONGC share price shot up 2.89 per cent, shares of Indraprastha Gas scaled 2.41 per cent, Indian Oil Corporation counter added 1.95 per cent, Castrol India scrip rose 1.23 per cent while BPCL stocks added over half a per cent.

IT stocks closely followed Oil and Gas rally as the BSE IT index shot up 0.91 per cent today. IT major Aptech share price escalated 4.45 per cent, share of Genesys International Corporation skyrocketed to near 20 per cent, MindTree counter added near 1 per cent, MosChip Technologies scrip scaled 3.31 per cent, NIIT counter rose 1.16 per cent, Ramco Systems share price rose 5.29 per cent, Tata Elxsi scrip added 2.55 per cent while Trigyn Technologies stocks rose near 5.95 per cent.

Among Asian stocks, the Japanese edged 0.02 per cent higher, South Korean Kospi went off 0.36 per cent, Hang Seng shot up 1.17 per cent while Shanghai Composite went down 0.03 per cent.