Stock Market: BSE Sensex soars 986 points, Nifty closes at 9,266; Axis Bank, Eicher Motors shares gain

Stock Market Today: On account of positive FIIs and DIIs, the Indian indices closed on the higher side for second consecutive trade session. The BSE Sensex shot up 986 points and closed at 31,588 levels while the NSE Nifty index gained 273 points and closed at 9,266 levels. Bank Nifty index skyrocketed 1,342 points and closed at 20,742 levels.

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "The Indian share market has closed on the higher side for second consecutive tade session as both DIIs and FIIs have shown positive sentiments in the last two trade sessions. Now, tomorrow opening and close is crucial. If the market sustains above 9,200 and closes above this levels tomorrow as well, then we can expect some fresh momentum for around 250 to 300 points hitting 9,550 levelsw in coiming few trade sessions."

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Shares of SBI, Reliance Industries, ICICI Bank, Tata Motors, HDFC Bank, Axis Bank, Indiabulls, Bajaj Finance, Motherson Sumi Systems and TCS were among the most trending stocks throughout the intraay ntrade session while shares of HDFC Bank, Housing Development Finance or HDFC limited, Indusind Bank and Marudi Suzuki were among the most active stocks in the intraday trade session.

Banking stocks led the bull run on Dalal Street in the intraday trade session. Banking major Axis Bank share price skyrocketed 13.45 per cent, ICICI Bank shares shot up 9.89 per cent, shares of IndusInd Bank scaled up 9.13 per cent, Kotak Mahindra Bank stock price rose 4.96 per cent, State Bank of India or SBI stocks added 2.49 per cent, HDFC Bank scrip went up 3.33 per cent while RBL Bank soared 3.22 per cent.

Auto stocks also witnessed some fresh buying in the intraday trade session. Auto major Eicher Motors share price skyrocketed around 10 per cent, Bharat Forge shares shot up near 19 per cent, shares of Maruti Suzuki India scaled northward 8.64 per cent, TVS Motor Company stocks rose 8.5 per cent, Apollo Tyres counter added 5.16 per cent while Ashok Leyland shares soared near 4 per cent.

Among major Asian indices, the Japanese Nikkei 225 index soared 3.15 per cent, South Korean Kospi rose 3.09 per cent, Hang Seng added 1.56 per cent while Shanghai market rose 0.66 per cent.

At Wall Street yesterday, Dow 30 added 0.30 per cent, Nasdaq went up 1.66 per cent, S&P 500 went northward 0.48 per cent but SmallCap 2000 index went down 1.33 per cent.