Stock Market Today: On account of strong global cues after the Wall Street rally yesterday, the Indian indices opened on the higher side from its Tuesday closing. The BSE Sensex surged 320 points to 36,353 levels while the NSE Nifty soared 97 points to 10,705 mark. Bank Nifty index went up 160 points to 21,553 levels. IT, tech, energy, banking and finance stocks were among the major gainers in the early morning trade session on Wednesday.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Speaking on current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The NSE Nifty is trading in a broad range of 10,500 to 10,850 mark. Bullish or bearish trend in the market can be concluded on breakage of either side of the range. Till then investors can maintain buy on dips strategy." Bhaumik said that banking stocks are showing weakness but Bank Nifty has strong technical support at 21,200 to 21,000 levels.

See Zee Business Live TV streaming below:

Shares of Wipro, Infosys, Tech Mahindra, Axis Bank, Tata Steel, HCL Technologies, IndusInd Bank, TCS, Vedanta and ICICI Bank were among the leading gainers in the early morning trade session while shares of Omaxe, IDBI Bank, Magma Fincorp, JaiprakashAssociates, Suzlon Energy, Reliance Capital, etc. were among the major losers in the opening bell trade session.

IT stocks led the bull run on Dala Street as the BSE IT index soared 2.53 per cent in the early morning trade session. IT major Wipro share price skyrocketed 10 per cent immediately after the opening of the markets, Birlasoft shares soared 3.23 per cent, shares of Infosys went up 2.73 per cent, HCL Technologies stock price added 2.17 per cent, Kellton Tech Solutions surged 4.76 per cent, Tanla Solutions scrip went northward 4.99 per cent while Tata Consultancy Services or TCS share price added 1.46 per cent.

Metal stocks also witnessed some fresh buying in the opening bell as the BSE Metal index shot up 1.75 per cent. Metal major Tata Steel share price soared 2.36 per cent, Jindal Steel & Power shares went up 2.53 per cent, shares of Steel Authority of India Ltd or SAIL rose 1.90 per centHindalco Industries stock price added 1.68 per cent while Hindustan Zinc counter added 1.10 per cent in the early morning trade session.

Among the major Asian indices, the Japanese Nikkei 225 index soared 1.13 per cent, South Korean Kospi added 0.33 per cent, Hong Kong's Hang Seng went down 0.47 per cent while the Shanghai index crashed 1.39 per cent.

At Wall Street yesterday, Dow Jones skyrocketed 2.13 per cent, Nasdaq rose 0.94 per cent, S&P 500 scaled up 1.34 per cent while SmallCap 2000 rose 1.19 per cent.