Closing Bell: Sensex rises 997 points, Nifty at 9,859 levels; Vedanta, Tata Motos shares soar

Closing Bell: On account of Gilead Coronavirus treatment trial in the US and crude oil price rise, Indian stock market along with global indices surged over 3 per cent in the intraday trade today. The BSE Sensex soared 997 points and closed at 33,717 while the 50-stocks NSE Nifty index shot up 306 points and closed at 9,859 levels. Bank Nifty escalated 444 points and closed at 21,534 levels. Shares of metal, auto, IT and tech sector were among the major gainers in the intraday trade session.

Speaking on the rise in Indian indices; Pakash Pandey, MD & CEO at Plutus Advisors said, "This rise is due to the positive sentiments coming in from the Coronavirus treatment trial newsbreak in the US. Apart from this, crude oil prices have also gone up, which is also a good sign for the gloal equity markets. Currently, Nifty is sustaining above 9,500 and it may hit 10,000 levels soon. But, I will advise investors to book profit at around this levels as the market is making top-out at this level."

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Shares of Tata Motos, Reliance Industries, SBI, GAIL, UPL, Bajaj Finance, HUL, HDC Bank, IndusInd Bank and ICICI Bank were among the most trendin stocks throughout the intraday trade session while shares of Axis Bank, Housing Development Finance, Maruti Suzuki, IndusInd Bank and Tata Motors were among the most actie stocks in the intraday trade session.

Metal stocks led the bull run on Dalal Street as the BSE Metal index soared above 8.25 per cent. Metal major Vedanta share price surged oer 13 per cent, Hindalco Industries shares skyrocketed to the tune of nea 12 pe cent, shares of JSW Steel shot up 10.20 pe cent, NMDC stocks went up 6.83 per cent, Steel Authority of India  LTD or SAIL share price rose 5.45 per cent, Tata Steel went up 5.65 per cent while National Aluminium Company or NALCO added over 3 per cent in the intraday trade session.

As predicted by various stock market experts, auto stocks witnessed heavy rally once Nifty went past 9,500 levels and sustained above that. BSE Auto index rose to the tune of near 6 per cent in the intraday trade session today. Auto major Tata Motors share price skyrocketed more than 19 per cent, Hero MotoCorp shares soared 9.94 per cent, shares of Ashok Leyland shot up 9.18 pe cent, Bajaj Auto stocks added over 5 per cent, Bharat Forge stock price jumped 9.49 per cent, Eicher Motors scrip added 2.18 per cent while Maruti Suzuki India and Mahindra & Mahindra counters went up to the tune of near 5.30 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index shot up 2.14 per cent, South Korean Kospi went up 0.70 per cent, Hang Seng rose 0.28 per cent while the Shanghai market soared 1.26 per cent.