Stock Market Closing Bell: Bank Nifty pulls BSE Sensex above 39K; IndusInd Bank, Axis Bank shares gain

Stock Market Closing Bell: On account of massive buying in banking, energy and auto stocks, the Indian indices closed more than half per cent up on Wednsesday intraday trade session. After the closing bell trade session, the BSE Sensex shot up 230 points and closed at 39,073 mark while the 50-stocks NSE Nifty scaled up 77 points and closed at 11,549 mark. Bank Nifty index soared 322 points and closed at 23,414 levels.

Speaking on the current market scenario; SEBI registered technical stock analyst Simi Bhaumik said, "The NSE Nifty has managed to close above its yesterday's high that means the market is expected to go northward up to 11,650 levels. Any dip in the markets should be seen as buying opportunity because overall market is bullish."

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Shares of Indostar Capital Finannce, IIFL Finance, GIC Housing Finance, Bajaj Electricals, Tata Motors, Blue Dart Express, TVS Srichakra, Blue Star and Parag Milk Foods were among the leading gainers in the intraday trade session while shares of Adani Enterprises, HEG, Tube Investments, Adani Transmission, Vinati Organics and Bharti Airtel were among the major losers today. 

Banking stocks participated in today's rally that helped Sensex and Nifty break their resistance levels. Banking major IndusInd Bank share price skyrocketed 5.85 per cent, rBL Bank shares soared 6.43 per cent, shares of Kotak Mahindra Bank surged 2.82 per cent, Axis Bank share scaled northward 2.76 per cent while ICICI Bank stock price added around 1 per cent.

Auto stockis continue to attract fresh buyers throughout the intraday trade session. Auto major Tata Motors share price skyrocketed 8.82 per cent, Hero MotoCorp shares jumped 6.48 per cent, shares of TVS Motor Company shot up 4.88 per cent, Bajaj Auto stocks went northward 2.25 per cent, Eicher Motors stock price escalated 1.45 per cent while Balkrishna Industries counter added 1.31 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index went off 0.03 per cent, South Korean Kospi went up 0.11 per cent, Hong Kong's Hang Seng added 0.02 per cent while the Shanghai index dipped 1.30 per cent in the opening bell trade session.

At Wall Street yesterday, Dow Jones dashed 0.21 per cent, Nasdaq shot up 0.76 per cent, S&P 500 appreciated 0.36 per cent while SmallCap 2000 rose 0.20 per cent.