Sensex soars over 600 points, Nifty climbs 11K, Bank Nifty scales 28K; Aurobindo Pharma, Vodafone Idea stocks gain

The stock market of India finally break all barriers and psychological resistance in the intraday today. The BSE Sensex shot up 636 points and closed at 37,327 levels while the Nifty-50 index scaled 11,000 levels after gaining 176 points today. The Bank Nifty index shot up 408 points and closed above 28,00 levels at 28,110 levels. Navkar Corporation, Indiabulls Real Estate, Aurobindo Pharma, Magma Fincorp and Vodafone Idea stocks were the top gaining stocks in the intraday trade while Reliance Infrastructure, ITI, Cummins India and Lemon Tree Hotels stocks were the major losers today.

Speaking on the current market outlook Prakash Pandey, Head of Research at Fairwealth Securities said, "Nifty has scaled above 11,000 levels and if it sustains above this levels means if it opens above 11,000 tomorrow and closes above this levels, we can expect some further upside in the market for around 200-250 points. However, I would like to add that the bullish trend can be attributed to the market only when the Nifty sustains above 11,300 levels."

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Energy stocks led the bull run on Dalal Street as the BSE Energy index jump 3.42 per cent in the intraday trade. Energy major and Sensex heavyweight Reliance Industries share price shot up 3.87 per cent, shares of Adani Gas went up 2.52 per cent, Bharat Petroleum Corporation counter soar 3.85 per cent, Coal India scrip scaled 2.86 per cent while IOCL went up 1.36 per cent.

Auto stocks also witnessed fresh buying in the intraday trade as the BSE Auto major went up 2.77 per cent. Auto major Tata Motors share price shot up 5.58 per cent, stocks of TVS Motor Company skyrocketed 4.08 per cent, Mahindra & Mahindra went up around 4 per cent, Hero MotoCorp counter scaled 3.19 per cent, Eicher Motors added 2.23 pre cent, Ashok Leyland shares surge 3.92 per cent while Apollo Tyres jump 4.57 per cent.

Among Asian markets, the Japanese Nikkei 225 index shot up 0.37 per cent, South Korean Kospi went up 0.57 per cent, Hang Seng ticked 0.48 per cent higher while Shanghai market went northward 1.11 per cent.