Stock Market Closing Bell: BSE Sensex rises 214 points, NSE Nifty above 11,350; Brigade Enterprises, HDFC Bank shares gain

Stock Market Closing Bell: On account of positive global sentiments, the Indian indices closed near 0.50 per cent higher on the weekend Friday trade session.

The BSE Sensex shot up 214 points and closed at 38,434 mark while NSE Nifty gained 59 points and closed at 11,371 mark. Bank Nifty index soared 300 points and closed at 22,299 levels. Photo: Reuters

Stock Market Closing Bell: On account of positive global sentiments, the Indian indices closed near 0.50 per cent higher on the weekend Friday trade session. The BSE Sensex shot up 214 points and closed at 38,434 mark while NSE Nifty gained 59 points and closed at 11,371 mark. Bank Nifty index soared 300 points and closed at 22,299 levels. Power, realty, utility and banking stocks were among the major gainers in the intraday trade session.

Speaking on the current market scenario; SEBI registered technical equity analyst Simi Bhaumik said, "The market has opened above 11,400 that means it is ehading for another high of 11,500. Overall the market sentiment is bullish and any dip in the market should be seen as a buying opportunity."

Pressing the alarm bell for mid-cap and small-cap stock traders Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking said, "We have seen some robust moves in a bundle of mid and small cap stocks, which was clearly missing for more than a year in pre-COVID time. So practically, they are compensating for their long underperformance. Although, there is no sign of weakness yet, we still believe that from here on one should avoid aggressive bets in midcaps. Because we can see a cluster of resistances for NIFTY MIDCAP 50, which includes a ‘200-SMA’ on a weekly chart. Hence, anytime we can see some short-term profit taking in this space."

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Relaty stocks continue to receive fresh buying throughout the intraday trade session as the BSE Realty index shot up to the tune of 1.43 per cent. Realty major Brigade Enterprises share price shot up 4.39 per cent, Phoenix Mills shares skyrocketed 9.94 per cent, shares of Mahindra Lifespace Developers jumped 6.77 per cent, Sunteck Realty stocks rose 3.83 per cent while Oberoi Realty counter added 2.61 per cent.

In banking sector, HDFC Bank share price surged 2.56 per cent, Federal Bank jumped 2.38 per cent, shares of City Union Bank shot up 3.65 per cent, Axis Bank stock price added 1.25 per cent, State Bank of India or SBI shares went northward 1.87 per cent.

Among the major Asian stock markets, the Japanese Nikkei 225 index went up 0.17 per cent, South Korean Kospi shot up 1.34 per cent, Hong Kong's Hang Seng soared 1.30 per cent while Shanghai market added 0.50 per cent in the opening bell trade session.

At Wall Street yesterday, Dow Jones index added 0.17 per cent, Nasdaq jumped 1.06 per cent, S&P 500 went up 0.32 per cent while SmallCap 2000 dipped 0.45 per cent.

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