Stock Market Today: On account of strong global cues post-Wall Street rally yesterday, the Indian indices opened on the positive note in the opening bell trade session today. The BSE Sensex shot up 291 points and hit 38,223 mark while the NSE Nifty rose 47 points to 11,179 mark. Bank Nifty index added 31 points and scaled 21,817 levels.

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Speaking on the current market scenario Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "The overall market sentiment nis bullish till the NSE Nifty is trading above 11,000 levels. It is facing strong resistance at 11,250. Once it breaks this resistance, we can expect NSE Nifty to go up to 11,400 to 11,500 levels." Singre said that Bank Nifty is also having strong support at 21,500 levels and till it's above this level, positive momentum in the markets will continue to get further boost from it.

Nifty banking index, which tracks both state-owned and private-sector lenders, rose 0.9 per cent. IndusInd Bank gained 2.4 per cent ahead of its earnings.

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IT services firm Tech Mahindra rose 5 poer cent to the top of Nifty gainers, helping the Nifty IT index climb 1 per cent, after it reported higher quarterly profit.

Bharti Infratel was the top laggard, shedding 1.4 per cent, after it reported downbeat quarterly results and announced the resignation of its chief executive officer.

Asian shares shook off coronavirus concerns and Sino-US tensions to make early gains as investors wagered the U.S. Federal Reserve would reaffirm its super-easy policy outlook this week, and a tolerance for higher inflation.

MSCI`s broadest index of Asia-Pacific shares outside Japan added 1.2 per cent on the prospect of more fiscal spending and endless cheap liquidity, with Fed Chair Jerome Powell expected to sound reassuringly accommodative after a policy meeting on Wednesday. (With inputs from Reuters)