Stock Market Today: Sensex, Nifty trade tepid on cautious global cues; Bharti Airtel, HDFC Bank shares gain

Stock Market Today: On account of cautious global sentiments after the falter in Coronavirus vaccine test, Asian indices including Indian stock market is trading cautiously. The BSE Sensex opened 195 points up at 30,391 levels while the NSE Nifty went up 61 points to 8,940 levels. Bank Nifty rose 172 points to 17,658 levels. Real estate, telecom, oil and gas stocks were among the major gainers in the early morning trade session. 

Speaking on the Indian share market Prakash Pandey, MD & CEO at Plutus Advisors said, "Market is trading in the range of 8,700 to 9,100. We can expect further bearish trend if the Nifty sustains below 8,900. Similarly, if Nifty manages to sustain above 9,100 then we can expect it to hit 9,380 levels soon." Pandey advised share markt investors to keep booking-profit on every 5-6 per cent rise.

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Shares of Reliance Industries, Bharti Airtel, SBI, ICICI Bank, HDFC Bank, Axis Bank, Bajaj Finance, ITC, UPL and Tata Motors were among the most trending stocks in the opening bell trade session while shares of Housing Development Finance, HUL and IndusInd Bank were among the most active stocks in the early morning trade session.

Telecom stocks led the bull run on Dalal Street as the BSE Telecom index shot up around 1.48 per cent. Telecom major Bharti Airtel share price soared 1.42 per cent, Vodafone Idea shares rose 4.76 per cent, Mahanagar Telephone Nigam Ltd or MTNL stock price added 1.17 per cent while ITI scrip went northward 0.43 per cent.

Among oil and gas stocks, Bharat Petroleum Corporation Ltd or BPCL share price surged 1.99 per cent, GAIL India shares rose 2.69 per cent, shares of Indraprastha Gas Ltd. rose near 2.1 per cent. 

In banking sector, HDFC Bank share price rose 1.25 per cent while shares of Axis Bank, Federal Bank, ICICI Bank, Kotak Mahindra Bank and RBL Bank were trading in the green zone.

Among the major Asian markets, the Japanese Nikkei went up 0.97 per cent, South Korean Kospi added 0.21 per cent, Hong Kong's Hang Seng dip 0.09 per cent while Shanghai index slide 0.45 per cent.

At Wall Street yesterday, Dow 30 crashed 1.59 per cent, Nasdaq dipped 0.54 per cent, SmallCap 2000 wemnt down 0.96 per cent while went southward 1.05 per cent.