Sensex, Nifty regain lost ground on crude oil slump; SAIL, DLF, Bharti Airtel stocks gain

Stock Market: On account of slide in global crude oil prices, the Indian indices regained their lost ground as the BSE Sensex regained the psychological 41,000 levels while the 50-stocks Nifty index sustained above the crucial 12,000 mark. The BSE sensitive index Sensex shot up 353 points and closed at 41,142 levels after the Closing Bell trade session. The nifty index rose 109 points and closed at 12,089 levels. Bank Nifty logged 315 points gain and closed at 31,001 mark, regaining psychological 31K levels.

Speaking on the current stock market outlook Simi Bhaumik, a SEBI registered technical equity expert said, "The market is overall bullish and Nifty has sustained above 12,000 levels means it is poised to hit 12,200 levels. Any dip in nifty from current closing should be seen as buying opportunity, however, I would also recommend traders to avoid any fresh position in 12,100 to 12,200 levels."

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Shares of Athena Constructions, SBI, Yes Bank, Tata Motors, IRCTC, Reliance Industries, ICICI Bank, HDFC Bank and Punjab National Bank were among the most trending stocks in the intraday trade session while stocks of Bharti Airtel, Tata Global Beverages, Tata Motors and SBI were among the most active shares in the intraday trade.

Metal stocks led the bull run as the BSE metal index soared 2.90 per cent. Metal major Steel Authority of India Ltd or SAIL share price skyrocketed 5.38 per cent, Tata Steel shares went up 5.80 per cent, Jindal Steel & Power stock price soared over 5 per cent, JSW Steel stocks scaled 4.95 per cent while Vedanta counter went up 3.43 per cent.

Realty stocks also witnessed fresh buying throughout the intraday trade session as the BSE Realty index went up 2.70 per cent. Realty major Prestige Estates Projects share price skyrocketed 6.76 per cent, Godrej Properties shares rose 5.47 per cent, DLF share price scaled 2.63 per cent while Phoenix Mills stock price went northward 1.96 per cent in the intraday trade session.

In the telecom sector, Bharti Airtel share price soared 2.77 per cent, HFCL shares scaled 3.67 per cent, ITI stock price added 4.53 per cent, Reliance Communications stock price skyrocketed 4.05 per cent, Sterlite Technologies counter went up 2.07 per cent while Bharti Infratel stocks added 1.83 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index soared 1.02 per cent, South Korean Kospi went up 0.36 per cent, Hang Seng rose 0.42 per cent while the Shanghai markets were up 1.25 per cent.

At Wall Street yesterday, Dow 30 surged 1.44 per cent, Nasdaq soared 2.10 per cent while S&P 500 went northward 1.50 per cent in the intraday trade session on Tuesday.