Sensex, Nifty gain ahead of crucial Brexit Summit; Eicher Motors, Vedanta, TVS Motor stocks gain

The stock market of India gained ahead of the key Brexit Summit and rising confusion on the US-China trade deal. The BSE Sensex rose 291 points and closed at 38,506 levels while the 50-stock Nifty index gained 87 points and closed at 11,428 levels in the Closing Bell. The Bank Nifty index soared 373 points and closed at 28,555 levels.

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Market is overall bullish as the Nifty has managed to sustain above the 11,300 levels. Now, the market is poised to showcase 11,500 levels and my suggestion to the stock market investors to adopt buy on dips strategy."

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Auto, metal and banking stocks led the bull run on Dalal Street today. Bandhan Bank, Adani Transmission, JSW Energy, TVS Motor, Eicher Motors, Take Solutions and Strides Pharma stocks were among the major gaining shares in the intraday trade while Reliance Capital, Suzlon Energy, Just Dial, Lakshmi Vilas Bank, Dewan Housing Finance Limited of DHFL, Indiabulls Housing Finance and Vodafone Idea stocks were the major losing stocks in the Closing Bell session today.

Auto stocks received maximum fresh buying as the BSE Auto index shot up 2.31 per cent in the intraday trade. Auto major Eicher Motors share price shot up 4.58 per cent, shares of TVS Motor Company soared near 3 per cent, Motherson Sumi Systems shares rose 2.88 per cent, Maruti Suzuki India counter price surged 2.64 per cent while Ashok Leyland stock price went 2.44 northward.

Among major Asian markets, the Japanese Nikkei 225 index shot up 1.87 per cent, South Korean Kospi added 0.04 per cent, Hang Seng slipped 0.07 per cent while the Shanghai market crashed 0.56 per cent.