Stock Market: On account of mixed trends from the global indices, the Indian indices opened on the cautious note in Wednesday opening bell trade session. The BSE Sensex shot up 86 points and hit 38,930 mark while the NSE Nifty scaled up 29 points and touched 11,501 mark. The Bank Nifty index soared 154 points and tested 23,246 levels. Auto, real estate, consumer durable goods and banking stocks were among the major gainers in the early morning trade session.
Speaking on the current market scenario; Simi Bhaumik, a SEBI registered technical stock analyst said, “Overall market is bullish. Today Nifty has opened in the green zone and it has managed to break 11,500 mark once again. If it manages to sustain above 11,525-30 mark in next few hours, then we can expect the NSE Nifty to further go up to 11,650 levels.”
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Shares of Indostar Capital Finnance, GIC Housing Finance, TVS Srichakra, TCI Express,TVS Motor Company, Jamna Auto Industries, Can Fin Homes and Hero MotoCorp were among the leading gainers in the opening bell trade session while shares of Va Tech Wabag, Adani Enterprises, Hexaware Technologie, PNC Infratech, Tube Investments and NOCIL were among the major losers in the early morning trade session.
Auto stocks led the bull run on Dalal street as the BSE Auto index shot up 1.71 per cent today. Auto major TVS Motor Company share price skyrocketed 6.15 per cent, Hero MotoCorp shares shot up 3.67 per cent, Bajaj Auto share zoomed 2.83 per cent, Tata Motors stocki price scaled up 1.85 per cent, Eicher Motors stocks added 1.72 per cent, Cummins India scrip rose 1.46 per cent while Bosch stock went northward 1.42 per cent.
Fresh buying were witnessed in realty stocks as well as the BSE Realty index rose to the tune of near 1 per cent in the early morning trade session. Realty major Brigade Enterprises share price shot up 1.79 per cent, Indiabulls Real Estate shares went up 1.41 per cent, shares of Prestige Estates Projects escalated 1.45 per cent, Sobha stocks went up 1.25 per cent while DLF stock price rose around 0.93 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index went off 0.18 per cent, South Korean Kospi went down 0.16 per cent, Hong Kong’s Hang Seng slide 0.14 per cent while the Shanghai index dipped 1.15 per cent in the opening bell trade session.
At Wall Street yesterday, Dow Jones dashed 0.21 per cent, Nasdaq shot up 0.76 per cent, S&P 500 appreciated 0.36 per cent while SmallCap 2000 rose 0.20 per cent.