Stock Market Today: Sensex, Nifty pause after gains on five successive trade sessions; Axis Bank, M&M Financial Services shares gain

Stock Market Today: After gaining for the last five successive trade sessions, the Indian indices finally took a pause and witnessed some profit-booking in the opening bell trade session. The BSE Sensex shed 49 points and hit 37,880 mark while the NSE Nifty went off 7 points to 11,154 levels. However, the Bank Nifty index continued its rally and gained 106 points before climbing at 22,888 mark.

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Overall the Indian market is bullish. Currently, Nifty is trading in the ragne of 10,850 to 11,250 but we can witness heavy resistance at 11,250 levels. So, any dip should be seen as a buying opportunity."

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Shares of Axis Bank, M&M Financial Services, Cipla, Dr. Reddy's Labs, Sun Pharma, ITC, NTPC, Nestle India and Reliance Industries Limited or RIL were among the leading gainers in the opening bell trade session while shares of DCM Shriram, SREI Infrastructure, Hindustan Copper, Suzlon Energy, UCO Bank and Au Small Finance Bank were among the leading losers in the early morning trade session.

Healthcare stocks led the bull run on Dalsl Street as the BSE Healthcare index soared to the tune of 0.84 per cent in the opening bell trade. Healthcare major Sun Pharma share price soared 3.23 per cent, Alembic Pharmaceuticals shares went northward around 2.39 per cent, shares of Aurobindo Pharma shot up 3.79 per cent, Biocon stocki price went up 2.49 per cent while Cipla counter price surged 2.12 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index shed 0.54 per cent, South Korean Kospi scaled up 0.12 per cent, Hong Kong's Hang Seng soared 0.13 per cent while the Shanghai market went up 1.25 per cent.

At Wall Street on Monday, Dow Jones added 0.60 per cent, Nasdaq ent down 0.81 per cent, S&P 500 added 0.17 per cent but SmallCap 2000 soared 1.33 per cent.