Sensex skyrockets 428 points, Nifty regains 12K; Vodafone Idea, Aurobindo Pharma stocks surge

Stock Market: On account of lowering Coronavirus spread, the Indian indices shot up sharply after ending lower for the last four trading sessions. The BSE Sensex skyrocketed 428 points and closed at 30,838 levels. Nifty scaled 133 points and closed at 12,125 levels. Bank Nifty soared 275 points and closed at 30,838 levels.

Speaking on the stock market outlook Simi Bhaumik, a SEBI registered technical equity analyst said, "Nifty has strong support at 12,050 and it may go up to 12,250 if it sustains above 12,050 levels." She said that auto, metal and banking stocks will lead the bull run in the coming few trade sessions.

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Vodafone Idea share price skyrocketed 38.94 per cent while Vodafone Idea shares leapfrogged 20.95 per cent. JPAssociates, Jubilant Life Science, Equitas Holdings, Engineers India and Voltas stocks were among the major gainers while shares of Lakshmi Vilas Bank, Sobha, Future Retail and Tata Motors were among the major losers in the intraday trade session.

Energy stocks led th bull run as the BSE energy scaled 2.37 per cent in the intraday trade session. Energy major Reliance Industries share price skyrocketed 2.60 per cent, Castrol India shares rose 2.09 per cent, shares of Coal India went up 3.25 per cent while Indian Oil Corporation Ltd or IOCL share price nudged 1.24 per cent higher.

Among the major Asian markets, the South Koream Kospi went up 0.07 per cent, Japanese Nikkei soared 0.89 per cent, Hang Seng shot up 0.46 per cent while Shanghai index went down 0.32 per cent in the intraday trade session.