Sensex, Nifty rise on US-China trade deal breakthrough; DHFL, Adani Green Energy stocks gain

The stock market of India went up on the breakthrough in US-China trade talks. The BSE Sensex surged 22 points to 41,439 levels while the 50-stocks Nifty index edged 8 points to 12,206 levels. Bank Nifty index went up near 8 points to 32,271.

Speaking on the current market outlook Simi Bhaumik, a SEBI registered technical equity analyst said, "Nifty is facing resistance at 12,250 levels and it has failed to break the 12,300 levels. However, it has strong support at 11,970 levels. So, any dip at Nifty should be seen as a buying opportunity."

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Shares of Dewan Housing Finance Limited or DHFL, Adani Green Energy, Reliance Infrastructure, Reliance Capital, IIFL Finance, Birlasoft and Crisil were among the major gainers in the Opening Bell trade session while stocks of United Breweries, Lemon Tree Hotels, Canara Bank, Bharti Infratel, Ujjivan Financial, Union Bank of India and Syndicate Bank were among the major losers in the morning bell trade session.

Telecom stocks led the selloff as the BSE Telecom Index went down 0.59 per cent in the Opening Bell trade session. Telecom major GTL Infrastructure share price crashed 4.76 per cent, Aksh Optifibre shares nosedived 3.52 per cent, Bharti Airtel and Bharti Infratel stocks went down near 0.60 per cent while Reliance Communications share price shot up 2.41 per cent and GTPL Hathway stocks rose 1.93 per cent.

Among the major Asian markets, the Japanese Nikkei surged to near 72 points to 23,902.50 levels, Kospi trade tepid at 2,190.11 levels, Hang Seng dipped 42 points to 27,864.21 levels while the Shanghai market added 10.53 points to 2,992.41 levels.