Stock Market Closing Bell Today: Reliance industries share price rise powers Sensex, Nifty rally on fifth straight trade session

Stock Market Closing Bell Today: On account of Reliance Industries share price rise by over 2 per cent in teh intraday trade session, Indian stock market ended in the green zone after opening on the lower side today. The BSE Sensex shot up 304 points after closing at 39,878 levels while the NSE Nifty soard 76 points and closed at 11,738 mark. Bank Nifty rose 111 points and closed at 22,964 levels.

Speaking on the current market trends Rohit Singre, Senior Technical Stock Analyst at LKP Securities said, "Market has strong support at 11,400 and till the market is above this level, any dip should be seen as buying opportunity. On the upper side, the market has strong hurdle in the range of 11,700 to 11,750 but once the market manages to break this hurdle, we can soon witness 12,000 levels at NSE Nifty."

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Shares of Thyrocare Tech, Dr. Lal Pathlabs, Oil India Ltd, Prism Johnson, Take Solutions, Infibeam Avenues, Dani Transmission, Titan Company and Magma Fincorp were among the leading gainers in the intraday trade session while shares of Vedanta, Lakshmi Vilas Bank, Reliance Power, Brigade Enterprises, Intellect Design and Adani Green Energy were among the major losers after the closing bell today.

Major reason for the Indian stock market ending in the greeen zone was due to the sharp rise in the Reliance Industries share price that controls around one sixth of the Sensex. The Reliance Industries or RIL share price ended 2.13 per cent higher from its previous day closing. Oil India Limited share price soard 6.61 per cent.

At the major Asian stock markets, the Japanese Nikkei went off 0.05 per cent, Kospi added 0.89 per cent, Hang Seng went up 1.09 per cent while the Shanghai index shed 0.20 per cent after teh closing bell today.

At Wall Street on yesterday, Dow Jones nosedived 1.34 per cent, Nasdaq crashed 1.57 per cent, Small Cap 2000 added 0.09 per cent while S&P 500 dipped 1.40 per cent.