Stock Market Today: Sensex, Nifty rise on Coronavirus vaccine hopes; UCO Bank, Mastek shares gain

Stock Market Today: On account of strong global cues post-positive developments in the Coronavirus vaccine trials, the Indian indices extended its yesterday gains in the opening bell trade session today. The BSE Sensex opened 389 points up at 37,808 mark while the NSE Nifty rose 105 points and hit 11,127 levels. The Bank Nifty index soared 390 points to 22,712 levels. Banking and finance and IT stocks were among the major gainers in the early morning trade session.

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Market is overall bullish after some positive developments in the Coronavirus vaccine trails. 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 Central Bank, UCO Bank, Bank of India, Hathway Cable & Data, Intellect Design, Jain Irrigation, Edelweiss Financial Services and Indian Overseas Bank were among the leading gainers in the early morning trade session while shares of Sterlite Technologie, Vodafone Idea, Alembic Pharmaceutical, Vakrangee, Hindustan Petroleum and Yesw Bank were among the major losers in the opening bell trade session.

Banking and financial stocks led the bull run on Dalal Street in the opening bell trade session. Banking major ICICI Bank share price surged 3.24 per cent, Axis Bank shares rose 1.72 per cent, shares of HDFC Bank went up 1.31 per cent while SBI shares added near 1 per cent. Centarl Bank share price skyrocketed near 12.46 per cent, UCO Banak shares soared 9.34 per cent while Bank of India stocks rose 7.44 per cent.

IT stocks also witnessed some fresh buying in the early morning trade session as the BSE IT index added over 0.8 per cent. IT major Mastek share price skyrocketed over 14 per cent, Majesco shares went up 5 per cent, Tanla Solutions counter added 5.45 per cent while Kellton Tech Solutions stocks went northward 4.90 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index shot up 0.65 per cent, South Korean Kospi scaled up 1.50 per cent, Hong Kong's Hang Seng skyrocketed 1.93 per cent while the Shanghai market went up 0.04 per cent.

At Wall Street yesterday, Dow Jones added 0.03 per cent, Nasdaq shot up 2.51 per cent, S&P 500 soared 0.84 per cent but SmallCap 2000 dipped 0.25 per cent.