Stock Market Today: Sensex, Nifty rise on positive global cues; SAIL, MTNL shares gain

Stock Market Today: On account of positive global sentiments, major Indian indices surged around 0.60 per cent in the opening bell trade session. The BSE Sensex shot up 185 points and hit 35,616 levels while the NSE Nifty went northward 50 points to 10,521-mark. Bank Nifty index went up 44 points to 22,308 levels.

Giving an idea about the Indian stock market, SEBI registered technical equity analyst Simi Bhaumik said, "Market is trading in a broader range of 10,280 to 10,550. But, overall sentiment is bullish and any dip should be taken as a buying opportunity." However, she said that pharma, banking and auto stocks will continue to remain favourite for the investors in the next few trade sessions.

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Shares of Jammu & Kashmir Bank, South Indian Bank, Chennai Petroleum, Bank of Baroda, Future Retail, SREI Infrastructure, Lakshmi Vilas Bank and Magma Fincorp were among the leading gainers in the early morning trade session while shares of Vakrangee, Glenmark Pharma, Union Bank of India, Adani Green Energy, Indiabulls Housing Finance and Sun Pharma Advanced were among the leading losers in the opening bell.

Metal stocks led the bull run on Dalal Street as the BSE Metal index shot up 1.12 per cent in the opening bell trade session. Metal major Steel Authority of India Ltd or SAIL share price rose 1.54 per cent, Jindal Steel & Power shares shot up 5.44 per cent, shares of JSW Steel went up 1.81 per cent, Hindustan Zinc counter added around 1 per cent while Tata Steel stocks scaled up 1.13 per cent.

In telecom sector, Mahanagar Telephone Nigam Ltd or MTNL share price rose to the tune of 1 per cent, Reliance Communications shares shot up 4.48 per cent, shares of OnMobile Global scaled up 3.92 per cent, GTL Infrastructure stock price surged 4.76 per cent while Sterlite Technologies stocks added 1.69 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index shed 0.21 per cent, South Korean Kospi went up 1.44 per cent, Hong Kong's Hang Seng ticked 0.03 per cent lower while the Shanghai index added 0.15 per cent.

On Wall Street, the Dow Jones Industrial Average ended 0.5 per cent higher, the S&P 500 gained 0.43 per cent and the Nasdaq Composite added 0.74 per cent.