Stock Market: Sensex gains over 400 points, Nifty rises 1 per cent; Suzlon Energy, SAIL, Deepak Fertilisers stocks gain

Stock Market News: On account of positive global cues the Indian indices gained over 1 per cent in the Opening Bell trade session. The BSE Sensex gained 422 points to 41,401 levels while the 50-stocks Nifty 121 points and scaled at 12,152 levels. Bank Nifty shot up 385 points and hit 31,443 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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Shares of SBI, Tata Motors, Reliance Industries or RIL, ITC, Tata Steel, Indiabulls and UPL were among the most trending stocks in the intraday trade while stocks of Bajaj Finance, HDFC Bank, Axis Bank and ICICI Bank were among the most active stocks in the Opening Bell trade session.

Metal stocks led the bull run as the BSE Metal index rose near 1.95 per cent in the intraday trade session. Metal major Steel Authority of India Ltd or SAIL stocks rose 2.39 per cent, Tata Steel share price scaled 2.47 per cent, JSW Steel shares 2.74 per cent, Hindalco Industries stocks added 2.33 per cent while Vedanta counter soared over 2 per cent.

Among the major Asian markets, the Japanese shed 0.60 per cent, Kospi scaled 1.33 per cent, Hang Seng 1.26 per cent while Shanghai index rose 0.33 per cent in the intraday trade.