Stock Market: On account of positive global cues, the Indian indices ended in the green zone after the closing bell. The BSE Sensex scaled 35,000 levels and sustained above it by closing at 35,414 — 503 points above yesterday’s closing. The NSE Nifty went up 159 points and closed at 10,471 levels while the Bank Nifty index regained 22,000 levels after closing at 22,264 levels.
Speaking on the curent marktes Simi Bhaumik, a SEBI registered technical equity analyst said, “Market is overall bullish and we can see it hitting 10,500 to 10,550 levels soon. Banking stocks are gaining momentum and they are expeted to perform well as the Bank Nifty will also soon showcase 22,400 to 22,600 levels.” She said that auto and pharma sector stocks will also fuel the stock market in next few trade sessions.
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Power stocks led the bull run as the BSE Power index shot up 4.40 per cent in the intraday trade session. Power major NTPC share price surged around 6.10 per cent, Power Grid Corporation of India shares soared 5.34 per cent, Adani Transmission and Adani Green Energy shares rose to the tune of around 5 per cent, Bharat Heavy Electricals or BHEL stocks went up 3.41 per cent while Tata Power Company stock price surged 2.30 per cent.
Banking stocks also witnessed some fresh buying as the BSE Banking index shot up to the tune of 2.5 per cent in the intraday trade session. Banking major IndusInd Bank share price skyrocketed 6.61 per cent, Axis Bank shares surged 3.28 per cent, shares of Kotak Mahindra Bank went up 2.74 per cent, State Bank of India or SBI stock price went northward 2.69 per cent while Federal Bank counter scaled up 4.79 per cent.
Among the major Asian markets, the Japanese Nikkei 225 index added 0.50 per cent, South Korean Kospi added 0.21 per cent, Hong Kong’s Hang Seng skyrocketed 1.62 per cent while the Shanghai index rose 0.18 per cent.