Stock Market: BSE Sensex regains 34K, NSE Nifty tests 10,150 resistance; IndusInd Bank, Oberoi Realty shares gain
Stock Market: The BSE Sensex shot up 333 points and closed at 34,290 levels while the NSE Nifty soared 69 points after closing at 10,116 levels.
Stock Market: On account of fresh buying in banking and realty stocks, the Indian indices closed in the green zone today. The BSE Sensex shot up 333 points and closed at 34,290 levels while the NSE Nifty soared 69 points after closing at 10,116 levels. Bank Nifty regained 21K after closing at 21,100 levels — 375 points up from its yesterday close.
Speaking on the stock market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "The NSE Nifty is facing resistance at 10,140-150 levels and it has strong support at 9,950. So, we can say that market is moving sideways in the range of 9,950 to 10,150." Pandey said that liquor and FMCG stocks are expected to do well till the market is trading in this range.
Highlighting techynical views on the current markets Deepak Jasani, Head Retail Research, HDFC Securities said, "Technically the Nifty remains in the 10,035 to 10,175 band. A move either way will decide the near term direction of the market."
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Shares of SBI, Reliance Industries, Axis Bank, ICICI Bank, HDFC Bank, Tata Motors and Housing Development Finance were among the most trending stocks throughout the intraday trade session while shares of RBL Bank, Bajaj Finance, IndusInd Bank, Vodafone Idea and TCS were among the most active stocks in the intraday trade.
Banking stocks led the bull run on the DALAL STREET as the BSE Banking index soared 1.79 per cent in the intraday trade. Banking major RBL Bank share price skyrocketed to the tune of near 20 per cent, IndusInd Bank shares shot up around 10 per cent, shares of Axis Bank added 2.88 per cent, Federal Bank stock price surtged 3.10 per cent, ICICI Bank counter went up 2.19 per cent while Kotak Mahindra Bank scrip scaled up 2.75 per cent.
Realty stocks also witnessed the bulk buying as the BSE Realty index shot up 1.78 per cent. Realty major Oberoi Realty share price surged 4.17 per cent, Prestige Estates Projects shares shot up 5.25 per cent, shares of Indiabulls Real Estate went up 4.93 per cent, Housing Development & Infrastructure stocks added 4.79 per cent while Phoenix Mills shares rose 2 per cent in the intraday trade session.
Among the major Asian indices, the Japanese Nikkei 225 index rose 0.15 per cent, South Korean Koispi added 0.31 per cent, Hong Kong's Hang Seng shed 0.03 per cent while Shanghai index dipped 0.42 per cent in the intraday trade session.
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