Opening Bell: NSE Nifty, BSE Sensex rise on strong global sentiments; NMDC, Rapco Home Finance shares gain

Stock Market Opening Bell: On account of strong global cues and positive FIIs, the Indian indices opened in thge green zone in Opening Bell. NSE Nifty shot up 55 points to 11,614 mark while the BSE Sensex rose 188 points to 39,302 mark. Bank Nifty shot up 247 points and hit 23,844 levels. Consumer goods, infra, telecom, PSUs and metal stocks were among the major gainers in the early morning trade session.

Speaking on the current market trends; Simi Bhaumik, a SEBI registered technical equity analyst said, "Market is overall bullish. The NSE Nifty is trading in the range of 11,530 to 11,650. Since, the market is above 11,600, we can expect profit-booking around 11,650 levels as the upper range is posing strong hurdle. One should avoid taking any fresh position here and wait for either breakage of the resistance or some correction post profit-booking."

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Shares of NMDC, GMR Infrastructure, Repco Home Finance, Welspun India, Steel Authority of India Limited or SALE, ITI, Indiabulls Housing Finance, LIC Housing Finance and Vodafone Idea were among the leading gainers in the early morning trade session while shares of Lakshmi Vilas Bank, Midna Industries, Allcargo Logistics, Jubilant Foodworks, Avenue Supermarts and Hindustan Aeronautic Limited or HAL were among the major losers in the opening bell trade session.

Metal stocks led the bull runa s the BSE Metal index shot up to the tune of near 1.5 per cent. Metal major NMDC share price skyrocketed 8.33 per cent, Steel Authority of India Ltd or SAIL shares went northward 5.28 per cent, Jindal Steel & Power jumped 3.51 per cent, Tata Steel stocks added 2.05 per cent while National Aluminium Company Ltd or NALCO rose 2.56 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index shsot up 0.58 per cent, South Korean Kospi surged 1.07 per cent, Hong Kong's Hang Seng went northward 0.91 per cent while the Shanghai index scaled up 0.51 per cent in the Opening Bell.

At Wall Street yesterday, Dow Jones rose 0.57 per cent, Nasdaq shed 0.34 per cent, S&P 500 added 0.17 per cent while SmallCap 2000 shot up 0.57 per cent.