Sensex, Nifty tick higher in cautious intraday trade; IRCTC IPO delivers over 125 pct return

On account of neutral domestic institutional investors (DIIs) and negative foreign institutional investors (FIIs), the Indian stock market ended in green zone after trading tepid throughout the intraday trade. The BSE Sensex added 87 points and closed at 38,214 levels while the 50-stock Nifty index went up 36 points and closed at 11,341 in the closing bell session. The Bank Nifty index shot up 139 points and closed at 28,181 levels.

Speaking on the curent market scenario Sumeet Bagaddia, Vice President at Choice Broking said, "Nifty had strong resistance at 11,300 which the 50-stock index has managed to break today by closing above these levels. If it opens tomorrow above this level and sustains above this level after tomorrow's closing then we can expect further upside swing of next 200 points up to 11,500."

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The Indian Railway Catering and Tourism Corporation or IRRCTC IPO got listed today and settled at Rs 626. Later on, in the intraday trade, the IrCTC share price further zoomed and crossed Rs 700 per stock levels in few trading hours. In the Closing Bell session, the Indian Railways Mini Ratna counter closed at Rs 733 levels giving stock market investors over 125 per cent returns. 

Vakrangee, Adani Gas, PC Jeweller, Vodafone Idea, DLF, Dewan Housing Finance Limited or DHFL, Aurobindo Pharma and Suzlon Energy stocks were the major gaining shares in the intraday trade while Reliance Capital, Reliance Infrastructure, PNB Housing Finance, Indiabulls Housing Finance, RITES, Lakshmi Vilas Bank and Infosys shares were the major losing stocks today.

Among major Asian markets, the Japanese Nikkei 225 index was closed today. South Korea's Kospi went up 1.11 per cent, Hang Seng went northward 0.81 per cent while the Shanghai market soared 1.15 per cent in the intraday trade.