Stock Market: Sensex, Nifty follows Wall Street's job data rally; Sunteck Realty, Axis Bank shares gain

Stock Market: On account of positive global cues due to the strong US Job data rally, the Indian indices opened in the green zone on Friday. The BSE Sensex gained 159 points and regained the psychological 36,000 levels. The NSE Nifty shot up 54 points and hit 10,606 mark. Bank Nifty index surged 142 points and hit 22,095 levels. 

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Indian indices are following the positive global cues but it has strong resistance at 10,660 mark while it has strong support at 10,540 levels. Telecom and IT stocks are expected to give upside movement while pharma are looking under pressure in the intraday trade session."

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Telecom stocks also witnessed some fresh buying in the early morning trade session. Telecom major Reliance Communications share price skyrocketed 4.86 per cent, ITI shares surged over 2 per cent, shares of GTL Infrastructure went up 4.71 per cent, Mahanagar Telephone Nigam Ltd or MTNL counter added 1.22 per centSterlite Technologies stocks scaled up 1.42 per cent while Tata Communications added around 0.54 per cent.

Real estate stocks witnessed maximum buying in the opening bell trade session as the BSE Realty index shot up 0.90 per cent in the intraday trade session. Realty major Sunteck Realty stocks surged near 1 per cent, Sobha shares added 1.05 per cent, shares of Prestige Estates Projects escalated 1.19 per cent, Phoenix Mills stock price rose 2.20 per cent while Indiabulls Real Estate share price went northward 3.25 per cent.

Among major banking stocks Axis Bank share price surged 1.17 per cent, Kotak Mahindra Bank shares rose to the tune of 1 per cent while ICICI Bank and IndusInd Bank stocks were in the gree zone by a slender gain from its yesterday's close.

Among the major Asian indices, the Japanese Nikkei 225 index rose 0.27 per cent, South Korean Kospi added 0.68 per cent, Hong Kong's Hang Seng scaled up 0.87 per cent while the Shanghai index surged 1.04 per cent in the early morning trade session.

At Wall Street yesterday, Dow Jones rose 0.36 per cent, Nasdaq added 0.52 per cent, SmallCap 2000 nudged northward 0.36 per cent while S&P 500 went up 0.45 per cent.