Stock Market Today: On account of the upbeat US job data, Indian indices inched higher in the intraday trade session. The BSE Sensex rose 61 points after closing at 38,470 levels while the 50-stocks Nifty ticked 18 points and closed at 11,269 levels. Bank Nifty shot up 161 points and closed at 28,815 after the Closing Bell.
Speaking on the Indian stock market Simi Bhaumik, a SEBI registered technical stock expert said, “Nifty has been trading in the range of 11,100 to 11,300. If Nifty sustains above 11,300 then we can expect it to touch 11,500 levels but the rise won’t be fast as overall market sentiment is bearish due to the Coronavirus spread in India.” She advised sell on rise rather than taking any buy position in the current market scenario and one must maintain stop loss while taking any buy or sell position.
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Shares of Yes Bank, SBI, Reliance Industries, IRCTC, Tata Motors, HDFC Bank, ITC, Tata Steel, ICICI Bank and Infosys were among the most trending stocks in the intraday trade while stocks of Indibulls, Housing Development Finance, TCS and IRCTC were among the most active stocks in the intraday trade session.
Shares of Yes Bank, Oriental Bank, Syndicate Bank, Allahabad Bank, PC Jeweller, DHFL and IDBI Bank were among the major gainers in the intraday trade while shares of Oil India Limited, Hexaware Technologie, Reliance Capital, Indiabulls Real Estate, Suzlon Energy and MindTree were among the major losers in the intraday trade.
Telecom stocks led the bull run on Dalal Street as the BSE Telecom index rose 1.21 per cent in the intraday trade. Telecom major Reliance Communications share price skyrocketed 3.95 per cent, ITI shares shot up 3.84 per cent, GTPL Hathway stock price scaled 1.95 per cent while Bharti Airtel stocks escalated to the tune of near 2 per cent.
Among major Asian indices, the Japanese Nikkei 225 index rose 1.09 per cent, South Korean Kospi shot up 1.26 per cent, Hang Seng skyrocketed 2.08 per cent while Shanghai markets scaled 2.02 per cent.