Stock Market: Sensex, Nifty end 1.25 per cent higher; DLF, HDFC Bank shares gain

Stock Market: The BSE Sensex gained 493 points and closed at 38,543 levels while the NSE Nifty surged 138 points after closing at 11,385 mark. Bank Nifty index shot up 469 points and regained 22,000 levels after making Tuesday close at 22,170 mark.

"The Market is trading in a broader range of 10,900 to 11,400 where it has strong support base in the range of 10,900 to 11,050. Till NSE Nifty is above 11,050 one should maintain buy on dips strategy, says expert. Photo: PTI

Stock Market: On account of strong global indicators, the Indian indices ended near 1.25 per cent higher today. The BSE Sensex gained 493 points and closed at 38,543 levels while the NSE Nifty shot up 138 points and closed at 11,385 mark. Bank Nifty index surged 469 points and regained 22,000 levels after making Tuesday close at 22,170 mark.

Speaking on the stock market trends in the current scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The Market is trading in a broader range of 10,900 to 11,400 where it has strong support base in the range of 10,900 to 11,050. Till NSE Nifty is above 11,050 one should maintain buy on dips strategy. On the upper side, the Nifty is facing strong resistance at 11,350 mark to 11,400 levels. Once, it breaks this resistance, then we can expect Nifty to go up to 11,500 mark."

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Realty stocks led the bull run throughout the intraday trade session as the BSE Realty index shot up to the tune of 4.19 per cent. Realty major DLF share price skyrocketed 6.22 per cent, Indiabulls Real Estate shares jumped 7.45 per cent, shares of Sunteck Realty surged 7.53 per cent, Sobha stock price soared 8.19 per cent while Oberoi Realty stocks addded 3.99 per cent.

In the banking sector, ICICI Bank share price surged 2.54 per cent, Kotak Mahindra Bank shares went northward 2.85 per cent, shares of HDFC Bank rose 2.22 per cent, IndusInd Bank stock price rose 1.62 per cent, Axis Bank went up 1.66 per cent while State Bank of India or SBI shares addded near 1 per cent in the intraday trade session.

Among the major Asian indices, the Japanese Nikkei 225 index went down 0.20 per cent, South Korean Kospi crashed 2.46 per cent, Hong Kong's Hang Seng index added 0.08 per cent while the shanghai index went northward 0.36 per cent.

At Wall Street on yesterday, Dow Jones went down 0.31 per cent, Nasdaq skyrocketed 1 per cent, SmallCap 2000 went up cent 0.49 per cent while S&P 500 added 0.27 per cent.

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