Stock Market Opening Bell: On account of strong global sentiments and positive foreign institutional investors (FIIs), the Indian indices opened around 0.40 per cent higher on Tuesday. The BSE Sensex shot up 175 points and hit 38,974 mark while the NSE Nifty soared 47 points and hit 11,513 mark. Bank Nifty index regained 23,000 levels after logging gains of near 2332 points in the early morning trade session.
Speaking on the current market scenario; SEBI registered technical equity analyst Simi Bhaumik said, “Overall the marekt is bullish. Much will depend upon the NSE Nifty movement. If it manages to sustain above 11,500 for few hours today, then we can expect it to further scale by near 100 points.”
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Shares of Allcargo Logistics, Max Financial Services, LIC Housing Finance, Eicher Motors, Deepak Fertilisers, Repco Home Finance, HUDCO, Bank of Maharashtra, InterGlobe Aviation or IndiGo were among the leading gainers in the early morning trade session while shares of Phoenix Mills, Varroc Engineering, Indian Overseas Bank, Inox Leisure, Balrampur Chini, Jamna Auto Industries and Yes Bank were among the leading losers in the opening bell trade session.
Banking stocks led the bull run on Dalal Street as the BSE Banking index shot up more than 1 per cent in the early morning trade session. Banking major State Bank of India or SBI share price soared 1.84 per cent, IndusInd Bank shares went up to the tune of 2.10 per cent, shares of ICICI Bank added 1.29 per cent, Axis BBank stock price surged 1.27 per cent while RBL Bank stocks skyrocketed 2.85 per cent.
Auto stocks also witnessed some fresh buying in the opening bell trade session. Auto major Eicher Motors share price shot up 2.55 per cent, Bosch shares added 1.89 per cent, shares of Tata Motors and TVS Motor Company surged 1.57 per cent, Motherson Sumi Systems rose 1.62 per cent while Maruti Suzuki India Ltd or MSIL shares went northward near 1 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index surged 1.80 per cent, South Korean Kospi shot up 1.45 per cent, Hong Kong’s Hang Seng shed 0.37 per cent while Shanghai index went off 0.19 per cent.