Stock Market: Sensex rises 114 points, Nifty above 9,100; Ashok Leyland, Hindalco Industries shares gain
Stock Market: The BSE Sensex ended 114 points up at 30,932 while teh NSE Nifty rose 39 points and closed at 9,106 levels. Bank Nifty shed 105 points and closed at 17,735 levels.
Stock Market: On account of positive domestic institutional investors (DIIs) pumping money in auto, metal, IT and tech stocks, the Indian indices ended with marginal gains from its yesterday closing. The BSE Sensex ended 114 points up at 30,932 while the NSE Nifty rose 39 points and closed at 9,106 levels. Bank Nifty shed 105 points and closed at 17,735 levels. Auto, metal, IT and tech stocks were among the major gainers in the intraday trade session.
Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Nifty has closed above 9,100 levels, which has remained a strong resistance for the markets. Tomorrow, opening will be crucial, if Nifty sustaians above 9,100 levels, then we can expect it to hit 9,380 soon." He said taht this rise was caused by the DII's investments in auto, metal, IT and tech stocks.
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Shares of Reliance Industries or RIL, SBI, ITC, Asian PAints, ICICI Bank, HDFC Bank, InsdusInd Bank, Axis Bank and HUL were among the most trending stocks in the closing bell trade session while shares of Housing Development Finance, Bharti Airtel, Maruti Suzuki and IndiGo were among the most active stocks in the closing bell trade session.
Auto stocks led the bull run as the BSE Auto index soared to the tune of 2.45 per cent. Auto major Ashok Leyland share price shot up 6.34 per cent, Bharat Forge shares rose over 3.3 per cent, shares of Eicher Motors went up 2.89 per cent, Hero MotoCorp stock price skyrocketed 3.93 per cent, Maruti Suzuki India scrip rose 3.14 per cent while TVS Motor Company counter added 2.3 per cent.
Metal stocks also witnessed some fresh buying by the DIIs. Metal major Hindalco Industries share price shot up 7.20 per cent, Jindal Steel & Power shares soared 3.10 per cent, shares of NMDC went up 4.21 per cent, Steel Authority of India Ltd or SAIL stock price rose 1.63 per cent while Vedanta counter went up 1.86 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index shed 0.21 per cent, Kospi added 0.44 per cent, Hong Kong's Hang SEng was down 0.49 per cent while Shanghai market was down 0.55 per cent.
On Wall Street, the Dow Jones Industrial Average rose 1.52%, the S&P 500 gained 1.67%, and the Nasdaq Composite added 2.08%.
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