Sensex, Nifty rise ahead of US-China trade talks; Tata Steel, Ashok Leyland, YES Bank stocks gain

The Stock Market of India went up ahead of positive speculations in regard to the US-China trade talks scheduled for 15th December 2019. The BSE Sensex shot up 169 points to 40,581 levels while the Nifty-50 index soared 61 points to 11,971 levels. Bank Nifty index saled 408 points to 31,665 levels.

Speaking on the current share market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "Nifty is trading in the range of 11,900 to 12,100. The market will remain range-bound until Nifty is trading in this range. Bullish or bearish trend at the Indian indices will be decided on the breakage of either side of the range at Nifty."

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Shares of PC Jeweller, IDBI Bank, Indiabulls Housing Finance, Tata Motors, YES Bank, ITI, Indiabulls Real Estate and SAIL were among the major gainers in the intraday trade while shares of Equitas Holdings, Reliance Power, Reliance Capital, DHFL, Ujjivan Financial and Infosys were among the major losers after the Closing Bell trade session.

Metal stocks led the bull run on Dalal Street as the BSE Metal index rose 2.41 per cent after the Closing Bell. Metal major Vedanta share price escalated 3.86 per cent, Tata Steel shares shot up 3.29 per cent, Steel Authority of India or SAIL stocks went northward 4.19 per cent, Hindalco Industries and JSW Steel share price went up to the tune of near 2.3 per cent while  National Aluminium Company or NALCO share price went up 1.65 per cent.

Auto stocks also witnessed some fresh buying as the BSE Auto index went up 1.32 per cent in the intraday trade. Auto major Tata Motors share price skyrocketed 7.17 per cent, Cummins India shares went northward 2.72 per cent, shares of Bharat Forge added 2.04 per cent, Ashok Leyland share price scaled 2.55 per cent while Motherson Sumi Systems stocks added 1.96 per cent after the Closing Bell.

Among the major Asian markets, the Japanese Nikkei 225 index scaled 32 points, South Korean Kospi shot up 31 points, Hang Seng skyrocketed 348 points while the Shanghai markets shed 0.30 per cent.