Stock Market Today: Sensex, Nifty rise on strong Wall Street cues; Indiabulls Real Estate, Ashok Leyland shares gain

Stock Market Today: Following the strong Wall Street rally and hopes of ease in US-China trade tension, the Indian indices opened in the green zone in Opening Bell. The BSE Sensex shot up 232 points to 38,283 mark while the 50-stocks NSE Nifty index soared 65 points and hit 11,312 levels. Bank Nifty index went 79 points up at 21,780 mark. Auto, consumer durable and realty stocks were among the major gainers in the opening bell trade session.

Speaking on the stock market trends during the opening bell trade session Simi Bhaumik, a SEBI registered technical equity analyst said, "The Market is trading in a broader range of 10,900 to 11,400 where it has strong support base in the range of 10,900 to 11,050. Till NSE Nifty is above 11,050 one should maintain buy on dips strategy. On the upper side, the Nifty is facing strong resistance at 11,350 mark to 11,400 levels. Once, it breaks this resistance, then we can expect Nifty to go up to 11,500 mark."

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Realty stocks led the bull run on Dalal Street as the BSE Realty index escalated more than 2 per cent in the opening bell trade session. Realty major Indiabulls Real Estate shot up 4.75 per cent, Oberoi Realty shares skyrocketed 5.11 per cent, shares of Sunteck Realty went northward 3.75 per cent, Sobha stock price rose 1.82 per cent while DLF stocks surged 3.70 per cent.

Among the auto sector stocks, Ashok Leyland share price surged 2.31 per cent, Eicher Motors shares rose 2.06 per cent, shares of Balkrishna Industries went up 1.90 per cent, Exide Industries stocks went northward 1.34 per cent while Amara Raja Batteries and Mahindra & Mahindra aded near 1 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index went down 0.28 per cent, South Korean Kospi shed 0.12 per cent, Hong Kong's Hang Seng index soared 0.33 per cent while the shanghai index went northward 0.42 per cent.

At Wall Street on yesterday, Dow Jones went down 0.31 per cent, Nasdaq skyrocketed 1 per cent, SmallCap 2000 went up cent 0.49 per cent while S&P 500 added 0.27 per cent.