Sensex, Nifty rise on ease in US-Iran standoff; ICICI Bank, Kotak Mahindra Bank to pull Bank Nifty

Stock Market: on account of ease in US-Iran standoff, the Indian indices extended its rally for the second straight trade session. In the Opening Bell, the BSE Sensex shot up 141 points at 41,593.36 levels while the Nifty added 40 points at 12,256.40 levels. Bank Nifty index also rose 110 points at 32,203.05 levels.

Speaking on the current stock market scenario Sumeet Bagadia, Executive Director at Choice Broking said, "Market is overall bullish. Nifty is trading in the range of 12,150 to 12,350. Any dip in the market should be seen as an opportunity to buy." Bagadia said that Bank Nifty will also witness some upside momentum as it is also trading in the range of 31,700 to 32,200 levels. He said that ICICI Bank and Kotak Mahindra Bank shares can be the engine for today's pull in Bank Nifty index.

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Telecom stocks led the bull run as the BSE Telecom index shot up near 1.15 per cent in the Opening Bell. Telecom major GTPL Hathway share price skyrocketed over 9 per cent, Bharti Airtel shares rose 1.10 per cent, Sterlite Technologies stock price soared 3.42 per cent while GTL Infrastructure stocks scaled 2.63 per cent.

In realty sector, Sobha stocks went up 3.39 per cent, Prestige Estates Projects share price rose 2.58 per cent, shares of Mahindra Lifespace Developers and Oberoi Realty went up near 0.85 per cent.

Among the major Asian markets, the Japanese Nikkei surged 0.17 per cent, Kospi went up 0.44 per cent, Hang Seng added 0.19 per cent while the Shanghai index went down 0.26 per cent in the Opening Bell today.