Stock Market Today: Sensex, Nifty rise on banking index rally; Infosys, IndusInd Bank shares gain

Stock Market Today: On account of recovery shown by the Bank Nifty index in second half of the intraday trade, the major indian indices ended in the green zone defying global selloff pressure. The BSE Sensex rose 424 points and closed at 36,476 levels while the NSE Nifty rose 110 points and closed at 10,728 mark. Bank Nifty after bleeding in the opening bell trade session showed recovery in the second half and closed 256 points higher at 21,597 levels. Shares of IT, tech, healthcare, auto oil and gas segment witnessed sharp rally as well.

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 bullish or bearish trend can be said only after the breaking of either side of the range.

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Shares of Bajaj Consumer Care, Infosys, Max Financial Services, Ipca Laboratorie, Thyrocare Tech, Bharat Petroleum, Birlasoft, Jyothy Labs, DCM, Cipla and Muthoot Finance were among the leading gainers in the intraday trade session while shares of Vodafone Idea, Hathway Cable & Data, Bharti Infratel, Yes Bank, Future Retail, Reliance Capital and Indiabulls Real Estate were among the leding losers today.

IT and tech stocks led the bull run on Dalal Street throughout the Thursday trade session. IT major Infosys share price skyrocketed 9.45 per cent, Mastek shares shot up 8.12 per cent, shares of Zensar Technologies soared 4.61 per cent, Sonata Software counter surged 3.78 per cent, MphasiS stock price rose 3.89 per cent, MindTree stocks went northward 3.57 per cent while Kellton Tech Solutions scrip added 4.83 per cent.

After receiving beating in the early morning trade session, banking stocks recovered sharply in the second half of the Thursday trade session. Banking major Federal Bank share price skyrocketed 4.41 per cent, IndusInd Bank shares shot up 2.98 per cent, Kotak Mahindra Bank stocks rose 2.47 per cent, State Bank of India or SBI shares added 1.28 per cent while Axis Bank counter went up 1.68 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index crashed 0.76 per cent, South Korean Kospi went down 0.82 per cent, Hong Kong's Hang Seng nosedived 2,0 per cent while Shanghai index dipped 4.48 per cent.

At Wall Street yesterday, the Dow 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.