Stock Market: Sensex, Nifty end over 0.5 pct on strong global cues; Energy, IT stocks gain

Stock Market: Following the wall Street rally and strong global cues, Indian indices extended their opening bell gains in mid session and finally closed around 0.55 per cent higher from its yesteday close. The BSE Sensex shot up 199 points and closed at 31,642 levels while the NSE Nifty index soared 52 points and closed at 9,251 levels. But, Bank Nifty shed 138 points and closed at 19,352 levels. Enegy, healthcare, IT and tech stocks were among teh major gainers in the intraday trade session.

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Global markets including Indian indices are following Wall Street. This rise is because of the strong corpoate earning reported in the US yesterday that fuelled Wall Street and other global indices. Currently, Nifty is trading in the broader range of 8,900 to 9,350. Once it sustains above 9,350 then we can expect it to further rise for around 100-150 points."

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Shares of Reliance Industries, SBI, HUL, Tata Motors, Axis Bank, ICICI Bank, HDFC Bank, IndusInd Bank, Bajaja Finance and RBL Bank were among the most trending stocks in the opening bell trade session while shares of HUL, HCL Tech, Asian Paints, HDFC Bank and ICICI Bank were among the most active stocks in the intraday trade session.

Energy stocks led the bull run today as the energy major ans Sensex heavyweight Reliance Industries share price skyrocketed 3.62 per cent, Adani Gas shares soared 3.07 per cent, shares of Castrol India added 1.74 per cent, Deep Industries stock price shot up 3.68 per cent, Gujarat Gas stocks escalated near 5 per cent while Indian Oil Corporation Ltd or IOCL counter went off 1.65 per cent.

IT stocks also witnessed some fresh buying in the intraday trade session. IT major HCL Infosystems share price appreciated 4.91 per cent, Infibeam Avenues shares shot up 4.90 per cent, Infosys stocks added 1.8 per cent, Majesco stock price scaled up 4.99 per cent, MosChip Technologies counter surged 3.76 per cent while Subex scrip went up 4.93 pe cent.

Among the Asian indices, the Japanese Nikkei rose 2.56 pe cent, South Korean Kospi went up 0.89 pe cent, Hang Seng soared 1.04 per cent while Shanghai market added 0.83 per cent.

At Wall Street yesterday, Dow 30 index shot up 0.89 per cent, Nasdaq surged 1.41 per cent, S&P 500 scaled up 1.15 per cent while SmallCap 2000 rose 1.56 per cent.