Sensex rise 236 points, Nifty near 12,100; SBI, Suzlon Energy, NTPC stocks gain

Stock Market News: On account of positive global sentiments, the Indian indices rose to near 0.60 per cent in the intraday trade session. The BSE Sensex rose 236 points and closed at 41,216 levels after the Closing Bell while the Nifty-50 index shot up 78 points and closed at 12,109 mark. Bank Nifty shot up 229 points and closed at 31,287 levels.

Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity expert said, "Market is overall bullish but one should avoid taking any position till Nifty trades between 12,100 to 12,200. I would suggest taking any buy position when the Nifty is below 12,100 or it sustains above 12,400. Any dip in the market should be seen as a buying opportunity by stock market investors."

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Banking stocks witnessed fresh buying in the intraday trade as the BSE Bankex rose 0.80 per cent in the intraday trade. Banking major SBI share price shot up 1.84 per cent, RBL Bank shares soared 2.41 per cent, IndusInd Bank stock price scaled 1.14 per cent while Axis Bank shares went up 1.17 per cent.

Power shares led the bull run on Dalal Street as the BSE Power index went northward 1.50 per cent in the intraday trade. Power major NTPC share price skyrocketed 2.95 per cent, Power Grid Corporation of India shares rose 1.53 per cent, Siemens stock price added 1.43 per cent, Tata Power Company stocks scaled 1.32 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index went down 0.60 per cent, Kospi rose 1 per cent, Hang Seng soared 1.26 per cent while Shanghai index added 0.39 per cent.