Sensex scales all-time high, Nifty climbs 12K; Jindal Steel & Power, Indiabulls Real Estate stocks gain

Stock Market News: On account of 25,000 crores special package to real estate package announced yesterday by the Modi cabinet and positive global cues the Indian indices skyrocketed today. The BSE Sensex scaled lifetime high after making the peak of 40,668.27 in the intraday trade session. The Sensex closed at 40,653 adding 183 points in its intraday trade. Fifty-stock Nifty climbed 12,000 levels and closed at 12,012 adding 46 points in the intraday trade after the Closing Bell.

Elaborating upon the current market scenario Prakash Pandey, MD & CEO at Plutus advisors said, "The market has scaled 12,000 levels and it has strong resistance at 12,100 levels. Much will depend upon tomorrow's opening bell. If it opens above 12,000 levels, then we can expect some more rally up to 12,100 levels. But, profit booking can take place any time as the market has been rallying for the last fortnight."

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On account of special Rs 25,000 crore package announced by the Modi Cabinet yesterday evening, the real estate stocks witnessed fresh buying throughout the intraday trading session. The BSE Realty index rose 0.78 per cent in the intraday trade. Realty majors like Indiabulls Real Estate, Ajmera Realty, Sobha stocks led the bull run in real estate shares. According to the stock market experts, this rise in real estate index is mainly caused by those real estate share buying that have exposure in the affordable and mid-segment sector.

Enery stocks led the bull run on Dalal Street as the BSE Energy index rose 0.98 per cent in the intraday trade after the Closing Bell. Energy major and Sensex heavyweight Reliance Industries Ltd. or RIL share price shot up 1.86 per cent, shares of Selan Exploration Technology soared 5.37 per cent, GOCL Corporation shares went up 1.59 per cent. Among metal stocks, Jindal Steel & Power share price skyrocketed 10.39 per cent, shares of Hindustan Zinc went up 2.43 per cent, Steel Authority of India or SAIL stock price soared 1.65 per cent.

Among the major Asian markets, the Japanese Nikkei went up 0.11 per cent, Kospi ticked 0.01 per cent higher, Hang Seng shot up 0.57 per cent while the Shanghai market added 0.02 per cent in the intraday trade.