Stock Market: Sensex, Nifty rise on Coronavirus vaccine hopes; Infosys, MphasiS shares gain

Stock Market: Following the Wall Street rally on Coronavirus vaccine hopes, the Indian indices opened in the green zone on Thursday. The BSE Sensex rose 112 points and hit 36,164 levels while the NSE Nifty escalated 13 points to 10,631 levels. Bank Nifty index shed 234 points and touched 21,106 mark. IT, tech, power, infra and realty stocks were among the major gainers in the opening bell trade session.

Speaking on the current stock markets; SEBI registered technical equity analyst Simi Bhaumik said, "The NSE Nifty is trading in a broader range of 10,500 to 10,850. Any dip in the market has to be seen as a buying opportunity." Bhaumik said that till the Nifty is above 10,500 it will be difficult to say that the market has topped-out.

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Shares of Infosys, Zensar Technologies, MphasiS, HCL Technologies, Federal Bank, Tata Elxsi, TCS, MindTree and Cyient were among the leading gainers in the opening bell trade session while shares of Vodafone Idea, Yes Bank, Hathway Cable & Data, Omaxe, Reliance Capital, Reliance Power, Magma Fincorp and Suzlon Energy were among the leading losers in the early morning trade session.

IT stocks led the bull run on Dalal Street as the BSE IT index shot up over 6.5 per cent in the opening bell. IT major Infosys share price skyrocketed 9.99 per cent, MphasiS shares shot up 4.81 per cent, shares of Tata Consultancy Services or TCS surged 3.19 per cent, Tata Elxsi counter went northward 3.46 per cent, Trigyn Technologies stocks added 4.98 per cent while Wipro counter soared 1.45 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index crashed 0.76 per cent, South Korean Kospi went down 0.59 per cent, Hong Kong's Hang Seng nosedived 1.23 per cent while Shanghai index dipped 1.41 per cent.

At Wall Street yesterday, the Down Jones index shot up 0.85 per cent, Nasdaq went up 0.59 per cent, S&P 500 surged 0.91 per cent while SmallCap 2000 skyrocketed 3.95 per cent.