scorecardresearch
Share Market Updates: Sensex gains over 200 points, Nifty above 18,150; banking stocks shine

Share Market Updates: Sensex gains over 200 points, Nifty above 18,150; banking stocks shine

At 09:16 hours, the 30-share BSE index was trading 230 points or 0.38 per cent higher at 60,917.10, and the broader NSE Nifty was up 73 points or 0.40 per cent to 18,176.

Share Market Updates: Sensex gains over 200 points, Nifty above 18,150; banking stocks shine Share Market Updates: Sensex gains over 200 points, Nifty above 18,150; banking stocks shine

Indian benchmark indices opened on a higher note amid mixed global cues. At 09:16 hours, the 30-share BSE index was trading 230 points or 0.38 per cent higher at 60,917.10, and the broader NSE Nifty was up 73 points or 0.40 per cent to 18,176.

Asian Paints was the top gainer in the Sensex pack, advancing over 2 per cent, followed by Kotak Mahindra Bank, HDFC Bank, Axis Bank, IndusInd Bank and Maruti Suzuki.

On the other hand, Tech Mahindra and Bharti Airtel were the top losers.

Indian market snapped three-day losing streak on November 12 backed by gains in IT and capital goods stocks. Sensex ended 767 points higher at 60,686 and Nifty rose 229 points to 18,100.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "The short-term support has shifted from 17,850 to 18,000 level. For the trend following traders, 18,000 would be the sacrosanct level. As long as the index is trading above the same, the uptrend wave will continue up to 18,200-18,400 while on the other hand, a close below 18000 could increase further weakness till 17,850-17,650."

Foreign institutional investors (FIIs) bought shares worth Rs 511 crore on November 12, and domestic institutional investors (DIIs) bought shares worth Rs 851 crore, as per provisional data available on NSE.