Stock Market Closing Bell: Sensex, Nifty pare early morning gains; SBI, Tata Motors shares rise

Stock Market Closing Bell: After witnessing fresh buying by the Foreign Institutional Investors (FIIs) in the early morning trade session, the Indian indices pared its gains and finally ended in green zone by a whisker.

BSE Sensex after making a high of 39,008 finally ended at 38,843 — logging gain of 44 points. NSE Nifty soared 5 points and closed at 11,472 mark. Photo: PTI

Stock Market Closing Bell: After witnessing fresh buying by the Foreign Institutional Investors (FIIs) in the early morning trade session, the Indian indices pared its gains and finally ended in green zone by a whisker. The BSE Sensex after making a high of 39,008 finally ended at 38,843 — logging gain of 44 points. NSE Nifty soared 5 points and closed at 11,472 mark. Bank Nifty skyrocketed 259 points and closed at 23,092 levels.

Speaking on the current Indian stock market trends; Simi Bhaumik, a SEBI registered technical stock analyst said, "Market broke the 11,500 resistance but finally closed below 11,500. So, tomorrow opening will be crucial. If it manages to open above 11,500 and breaks today's high of 11,525 mark, then we can expect it to further scale up to 11,650 mark."

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Shares of Adani Enterprises, Allcargo Logistics, HEG, Max Financial Services, GIC Housing Finance, Graphite India, Rallis India and Adani Gas were among the leading gainers in the intraday trade session while shares of Phoenix Mills, Persistent Systems, Gulf Oil Lubricants, Thyrocare Tech, Prism Johnson, Jamna Auto Industries, DCM Shriram and Gujarat Alkalies were among the major losers on Tuesday trade session.

Banking stocks led the bull run on Dalal Street as the BSE Banking index shot up to the tune of 1.23 per cent. Banking major State Bank of India or SBI share price shot up 3.30 per cent, IndusInd Bank shares rise 1.77 per cent, shares of Axis Bank went up 1.41 per cent, ICICI Bank stock price rose 1.35 per cent while RBL Bank stocks escalated 2.33 per cent.

Auto stocks witnessed some fresh buying in the intraday trade session. Auto major Tata Motors share price skyrocketed 5.36 per cent, Eicher Motors shares rose 2.08 per cent, Ashok Leyland share jumped 2.56 per cent, Cummins India stocks added 1.42 per cent while Mahindra & Mahindra stocki price rose 1.57 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index surged 1.80 per cent, South Korean Kospi shot up 1.58 per cent, Hong Kong's Hang Seng shed 0.26 per cent while Shanghai index went off 0.36 per cent.

At Wall Street yesterday, Dow Jones shot up 1.35 per cent, Nasdaq soared 0.60 per cent, S&P 500 skssyrocketed 1 per cent while SmallCap 2000 jumped 0.77 per cent.

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