Stock Market: Sensex, Nifty extends Opening Bell gains; TCS, Kotak Mahindra Bank, Ashok Leyland stocks gain

Stock Market: On account of fresh buying by the FIIs and DIIs, the Indian indices extended its Opening Bell gains at the end of intraday trade. The BSE Sensex surged 483 points and closed at 31,863 levels while the NSE Nifty went up 126 points and closed at 9,313 levels. Bank Nifty index shot up 566 points and regained 20,000 levels after closing at 20,267 mark. IT, tech, banking and finance stocks were the major gainers in the intraday trade session.

Speaking on the stock market scenario Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "The market is trading in the range of 9,000 to 9,500. If Nifty manages to break the upper range then we can expect it to appreciate up to 10,000 levels at a faster rate. However, 9,000 levels will be make or break for the markets in coming trade sessions." Singre said that if NSE Nifty manges to sustain above 9,500 then auto stocks may shine in the next few trade sessions.

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Shares of Reliance Industries, SBI, Infosys, ICICI Bank, Tata Motors, Axis BAnk, Tata Consultancy Services or TCS, HDFC Bank and Larsen & Toubro were among the most trending stocks throughout the intraday trade session while shares of Bajaj Finance, Kotak Mahindra Bank, Britannia Industries and State Bank of India or SBI were among the most active stocks in the intraday trade session.

IT stocks led the bull run as the BSE IT index soared 4.85 per cent in the intraday trade session. It major TCS share price shot up 5.30 per cent, Wipro shares added 1.23 pe cent, shares of Infosys skyrocketed around 5.15 per cent, MindTree stock price scaled up 4.46 per cent, MphasiS stocks added 3.96 per cent, Tanla Solutions scrip surged 4.98 per cent while Rolta India counter added 4.97 per cent.

Banking stocks also witnessed some fresh buying as the BSE Banking index soared 3.39 per cent in the intraday trade session. Banking major Kotak Mahindra Bank share price shot up 8.59 per cent, ICICI Bank shares soared 4.97 per cent, HDFC Bank scaled up 2.84 per cent, Federal Bank stock price added 1.81 per cent while RBL Bank stocks added 1.19 per cent.

In auto sector, Ashok Leyland share price soared 3.89 per cent, Bajaj Auto shares rose 1.63 per cent, Bosch shares went up 1.97 per cent, Cummins India counter added 2.14 per cent, Eicher Motors stock price shot up 2.79 per cent, Mahindra & Mahindra stocks went up 2.12 per cent while Exide Industries scrip added 1.56 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index skyrocketed 1.52 per cent, Hang Seng added 0.35 per cent, South Korean KJospi rose 0.98 per cent while the Shanghai index shed 0.19 per cent.

At Wall Street yesterday, Dow 30 shot up 1.99 per cent, Nasdaq soared 2.81 per cent, S&P 500 soared 2.29 pe cent while SmallCap 2000 scled up 1.69 per cent.