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Stock Market Closing Bell: Sensex, Nifty rise for sixth straight trade session; IndusInd Bank, Axis Bank, Vodafone Idea shares gain

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Stock Market Closing Bell: On account of strong global sentiments and Foreign Institutional Investors (FIIs) increasing their long-positions to around 75 per cent in the Indian equity markets, the Indian indices ended in the green zone today. The BSE Sensex shot up 350 points and closed at 39,464 levels while the NSE Nifty rose 88 points and closed at 11,647 levels. Bank Nifty index skyrocketed 923 points after closing at 24,523 mark.

Speaking on the current markets; SEBI registered technical stock analyst Simi Bhaumik said, “The marekt is overall bullish but NSE Nifty failed to sustain above 11,650 after making an intraday high of 11,686. Now, tomorrow opening is crucial. If the market opens above 11,650 then we can expect further rise in the markets.”

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Shares of Vodafone Idea, NMDC, IndusInd Bank, Force Motors, Canara Bank, Federal Bank, Axis BAnk, Shriram Transport Finance and Bank of Baroda were among the leading gainers in the intraday trade session while shares of Jindal Stainless, Reliance Infrastructure, DCM Shriram, Sterlite Technologie, Dixon Technologies and Hexaware Technologie were among the leading losers today.

Banking stocks led the bull run on Dalal Street as the BSE Banking index soared to the tune of 4 per cent. Banking major IndusInd Bank share price skyrocketed 10 per cent, Axis Bank shares zoomed 7.81 per cent, State Bank of India mor SBI share jumped 4.40 per cent, Kotak Mahindra Bank stock price appreciated 3.77 per cent, ICICI Bank stocks went up 4.17 per cent while Bandhan Bank counter rose near 3 per cent.

Telecom stocks also attracted fresh buyers throughout the intraday trade session. Telecom major Vodafone Idea share price skyrocketed over 14 per cent, Mahanagar Telephone Nigam Ltd or MTNL shares went northward near 3.07 per cent, Bharti Airtel share price added 2.15 per cent while ITI counter rose around 1 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index shed 1.41 per cent, South Korean Kospi surged 0.40 per cent, Hong Kong’s Hang Seng went northward 0.56 per cent while the Shanghai index scaled up 1.60 per cent in the Opening Bell.

At Wall Street yesterday, Dow Jones rose 0.57 per cent, Nasdaq shed 0.34 per cent, S&P 500 added 0.17 per cent while SmallCap 2000 shot up 0.57 per cent.



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