Stock Market Today: Sensex regains 32,000 levels, Bank Nifty above 19K; Eicher Motors, HDFC Bank shares gain

Stock Market Today: On account of positive doemstic institutional investors in the intraday trade session, the Indian indices logged around 1.85 per cent growth from its previous close. The BSE Sensex shot up 595 points and closed at 32,200 levels while the NSE Nifty went up 175 points and closed at 9,490 levels. Bank Nifty index surged 459 points and closed at 19,169 levels, regaining the psychological 19,000 levels.

Speaking on the current stock market scenario, SEBI registered technical equity analyst Simi Bhaumik said, "Overall the market is bullish but it has been rallying for the past two days and hence there can be some profit-bookin on tomorrow. I will suggest investors to wait for around 100-150 points correction at Nifty and take fresh buy position at around 9,300 to 9,350 levels." Bhaumik said that Bank Nifty has closed above the 19,000 levels and it may also witness some profit-booking on tomorrow. She advised to maintain buy on dips in both Bank Nifty and Nifty index. In Bank Nifty, one can take buy position on 400-500 points correction from the curent closing, Bhaumik said.

Deepak Jasani, Head Retail Research, HDFC Securities said, "Technically the Nifty has filled the downgap made on May 14. Now the next resistance is at 9,533-9,584 band, while 9,334-9,383 could offer support in the near term."

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Shares of Axis Bank, SBI, HDFC Bank, Reliance Industries, ICICI Bank, IndusInd Bank, Bajaj Finance, Tata Motors and Larsen & Toubro were among the most trending stocks in the intraday trade session while shares of Housing Development Finance, Kotak Mahindra Bank and Eicher Motors were among the most active stocks in the intraday trade session.

Auto stocks witnessed heavy buying in the intraday trade session as the BSE Auto index went up oer 3.5 per cent. Auto major Eicher Motors share price surged 8.33 per cent, Bharat Forge shares shot up 6.54 per cent, shares of Ashok Leyland added 2.66 per cent, Cummins India stock price went up 4.26 per cent, Hero MotoCorp stocks skyrocketed 5.52 per cent, Maruti Suzuki India scrip scaled up 4.37 per cent while Motherson Sumi Systems counter went up 6.76 per cent.

In banking sector, HDFC Bank share price skyrocketed 4.56 per cent, IndusInd Bank shares surged 4.95 per cent, shares of Federal Bank scaled northward 4.27 per cent, ICICI Bank stock price escalated 2.49 per cent while City Union Bank stocks shot up 3.20 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index soared 2.32 per cent, South Korean Kospi shed 0.13 per cent, Hong Kong's Hang Seng went down 0.72 per cent while Shanghai index went up 0.33 per cent.