Stock Market Today: On account of choppy Wall Street session, the Asian markets including Dalal Street indices made cautious gains in the Opening Bell trade session. The BSE Sensex gained 242 points and regained psychiological 35,000 mark by trading at 35,085 levels while the NSE Nifty shot up 78 points to 10,366 mark. Bank Nifty index saored 186 points and hit 21,692 mark.
Speaking on the current stock market scenario Rohit Singre, Senior Technical Research Analyst at LKP Securities said, “Indian markets is trading in a broader range of 10,100 to 10,500. My advice to the share market investors is to maintain buy on dips strategy every time the market comes close to 10,100 mark.” On what should be his suggestion to the traders in current situation Singre advised traders to avoid taking any fresh position at current levels.
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Banking stocks witnessed some fresh buying in the early morning trade session as the BSE Banking index shot up to the tune of 0.56 per cent. Banking major IndusInd Bank share price soared 3.46 per cent, State Bank of india or SBI shars added 1 per cent, shares of Axis Bank also added 1 per cent from its previous day’s closing, RBL Bank stock price went northward 2.61 per cent while ICICI Bank shares escalated 1.12 per cent.
Among the major Asian markets, the Japanese Nikkei shoot up around 1 per cent, South Korean Kospi shot up 0.97 per cent, Hong Kong’s Hang Seng went down 0.46 per cent while the Shanghai index went up 0.30 per cent.
At Wall Street yesterday, Dow Jones ended 1.18 per cdent higher, Nasdaq shot up 1.09 per cent, S&P 500 scaled up 1.10 per cent while SmallCap 2000 went northward 1.06 per cent.