Stock Market Closing Bell Today: Sensex soars 629 points, NSE Nifty above 11,400; IndusInd Bank, Bharti Airtel shares gain

Stock Market Closing Bell Today: On account of heavy short-covering in th banking, finance, realty and telecom stocks, the Indian indices managed to end in the green zone after the closing bell today. The BSE Sensex skyrocketed 629 points after closing at 38,697 levels while the NSE Nifty shot up 169 points and closed at 11,416 mark. Bank Nifty index skyrocketed 794 points and closed at 22,246 mark.

Speaking on the current markt trends; Simi Bhaumik, a SEBI registered technical equity analyst said, "Overall the market is bullish. Today, it has closed above 11,400 and if teh market openes tomorrow above 11,400 then we can expect it to go up to 11,500 levels." She said that IT, pharma, auto and banking stocks will continue to dominate the rally at Dalal Street.

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Shares of Trident, IndusInd Bank, PVR, Equitas Holdings, Inox Leisure, Shriram Transport Finance, Manappuram Finance and m&M Financial Services were among the leading gainers after the closing bell today while shares of Repco Home Finance, Vodafone Idea, Sunteck Realty, MphasiS, Central Bank of India and Apollo Hospitals were among the major losers in the intraday trade session.

Banking stocks led the bull run at Dalal Street as the BSE Banking index shot up to the tune of 3.73 per cent after the closing bell today. Banking major IndusInd Bank share price skyrocketed 12.41 per cent, Bandhan Bank shares rose 4.57 per cent, Axis Bank share went northward 4.44 per cent, ICICI Bank stocks rose around 4 per cent, Federal Bank stock price added 3.71 per cent while SBI share price added 2.67 per cent.

Telecom stocks also witnessed fresh buying in the intraday trade session. Telecom major Bharti Airtel share price jumped 2.72 per cent, Bharti Infratel shares went up 1.88 per cent, GTPL Hathway share added 1.73 per cent, Sterlite Technologies stock price appreciated to the tune of near 2 per cent while Vodafone Idea share price tanked 3.35 per cent after the closing bell today.