Sensex, Nifty rise on positive DII & FII; Bharat Petroleum, MCX, Central Bank stocks gain

Stock Market: On account of positive domestic institutional investors (DIIs) and foreign institutional investors (FIIs), the Indian indices rise ahead of the key Brexit Summit. The BSE Sensex rose 109 points to 38,615 levels in the Opening Bell while the 50-stock Nifty surged 29 points to 11,458 levels in the early morning trade session. The Bank Nifty index rise 113 points to 28,668 levels in the intraday trade.

Speaking on the market trends Prakash Pandey, MD & CEO at Plutus Advisors said, "Overall the market is bullish and both DIIs and FIIs are indulged in fresh buying. Nifty has strong resistance at 11,500, once it breaks that upper resistance we can expect a further upside movement of near 125-150 points at Nifty index."

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Bajaj Consumer Care, MCX, Bharat Petroleum Corporation Limited or BPCL, JK Lakshmi Cement, Reliance Capital, Reliance Infrastructure, SBI Life Insurance and Orient Cement stocks were among the major gaining shares in the Opening Bell while Lakshmi Vilas Bank, Dewan Housing Finance Limited or DHFL, Bandhan Bank, Suzlon Energy, Reliance Power and PNB Housing Finance stocks were the major losing shares in the Opening Bell trade session.

Oil, gas and energy stocks led the bull run on Dalal Street. Oil and Gas major Bharat Petroleum Corporation Limited or BPCL share price shot up 4.9 per cent in the Opening Bell, PSU oil major Hindustan Petroleum Corporation Ltd or HPCL share price went up 2.75 per cent, Reliance Industries Ltd or RIL share price scaled 0.93 per cent while Castrol India shares edged higher by mroe than half per cent.

Among the major Asian markets, the Japanese Nikkei 225 index shot up 1.15 per cent, south Korean Kospi added 0.61 per cent, Hang Seng went down 0.06 per cent while the Shanghai markets shed 0.28 per cent.