Sensex, Nifty close after tepid trade session; Tata Motors, SAIL, Vodafone Idea stocks gain

The stock market of India trade cautiously as the major indices remained range-bound throughout the intraday trade session. The BSE Sensex ticked 17 points down and closed at 41,558 levels while the Nifty slipped 10 points and closed at 12,255 levels. Bank Nifty index dipped 57 points and closed at 32,354 levels.

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "The market is awaiting profit-booking but the correction won't be much deeper as the Nifty has strong support at 12,070 and if Nifty goes below 12,150, it would be a good buying opportunity for the stock market investors."

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Auto stocks led the bull run on Dalal Street as the BSE auto index shot up 1.36 per cent in the intraday trade session. Auto major Tata Motors share price scaled 4.37 per cent, TVS Motor Company shot up 3.43 per cent, Ashok Leyland stock price soared 2.82 per cent, Eicher Motors stocks went up 2.65 per cent, Hero MotoCorp counter went up 1.43 per cent while MRF share price rose 1.21 per cent after the Closing Bell trade session.

Metal stocks also witnessed some fresh buying even though the market was range-bound. The BSE Metal index added around 1.25 per cent in the intraday trade session. Metal major SAIL or Steel Authority of India share price 2.25 per cent, Jindal Steel & Power shares shot up 3.81 per cent, Vedanta stocks rose 1.48 per cent, Tata Steel stock price escalated 1.05 per cent while Hindalco Industries counter added near 1 per cent in the intraday trade.

Among the major asian markets, the Japanese Nikkei 225 index crashed 181 points to 23,656.62 levels, South Korean Kospi dipped 0.30 per cent to 2,197.67 levels, Hang Seng soared 112 points after closing at 28,338.00 levels while Shanghai markets shot up 1.16 per cent to 3,040.02 levels.