BSE stock exchange: Sensex dips on negative global bond yields; Nifty oscillates around 11,000 levels
The BSE Sensex went down 174 points to 37,277 while the 50-stock Nifty crashed 49 points to 10,997. The Bank Nifty index 160 points to 27, 642 levels.
BSE stock exchange: The stock market of India went down in the opening bell after the FIIs took a pause post-dip in global bond yields. The BSE Sensex went down 174 points to 37,277 while the 50-stock Nifty crashed 49 points to 10,997. The Bank Nifty index 160 points to 27,642 levels.
Speaking on the current stock market outlook Simi Bhaumik, a SEBI registered technical equity analyst said, "Market is overall bullish till it is above 10,900 levels. I would advise market investors to take any dip as a buying opportunity as Nifty is trading in the range of 10,900 to 11,200-250 levels." Rise in auto, banking and financial stocks would lead to fuel in Indian indices, she said.
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Speaking on the reason for a dip in Indian indices Prakash Pandey, MD & CEO at Plutus said, "This dip in the Indian indices is because of the slip in bond yield in the global bond markets." He said that due to this the foreign institutional investors (FIIs) have taken a pause from taking any fresh buying in the Indian stock market.
Sun Pharma Advanced, CG Power and Industries, Sun Pharma, CARE Ratings, MMTC, Nestle India and ITI were among the major gaining stocks in the opening bell trade session while Indiabulls Housing Finance, Suzlon Energy, Coffee Day Enterprise or CCD, Lakshmi Vilas Bank and PC Jeweller were the major stocks that were in the red zone in the intraday trade session.
In the opening bell trade session at the BSE stock exchange, energy stocks also witnessed some profit booking as the BSE Energy went down over 0.6 per cent. Energy major Reliance Industries or RIL share price went down near 0.7 per cent, shares of Mangalore Refinery And Petrochemicals went down 2.33 per cent, Hindustan Oil Exploration Company shares corrected to the tune of 2.1 per cent while Bharat Petroleum Corporation Ltd or BPCL went down around 0.9 per cent.
Among Asian markets, the Japanese Nikkei 225 index was down 0.27 per cent, South Korean Kospi was down 0.21 per cent, Hang Seng was 0.33 per cent lower while Shanghai markets were 0.12 per cent down.
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