Opening Bell Today: Sensex, Nifty dip on India China border standoff; Oberoi Realty, SBI, Tata Steel stocks tank
Opening Bell Today: On account of escalating India China border tension, the Indian stock market indices opened in the red zone in the opening bell today.
Opening Bell Today: On account of escalating India China border tension, the Indian stock market indices opened in the red zone in the opening bell today. The BSE Sensex shed 155 points and touched 38,209 mark while the 50-stocks Nifty dipped 51 points to 11,266 mark. Bank Nifty craashed 288 points and hit 22,455 levels.
Speaking on the current stock market trends Simi Bhaumik, a SEBI registered technical stock analyst said, "The NSE Nifty has strong support at 11,250 and the 50-stocks index has strong hurdle at 11,450. So, we can say that the market is moving in a broader range of 11,250 to 11,450. Today, it came below 11,250 but soon bounced back and came above 11,250 levels that means the market is trying to maintain its previous trade range of 11,250 to 11,450."
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Shares of Heritage Foods, Ipca Laboratories, Amber Enterprises, HDFC Life Insurance, Escorts, Wipro and Infibeam Avenues we3re among the leading gainers in the opening bell today while shares of AstraZeneca Pharma, Dishman Carbogen Amc, Sadbhav Engineering, Jubilant Life Sciences, Magma Fincorp, SBI, Oberoi Realty and Jamna Auto Industries were among the leading losers in the early morning trade session.
Metal stocks led the bloodbath in opening bell today as the BSE Metal index crashed to the tune of 1.86 per cent. Metal major National Aluminium Company or NALCO share price crashed 2.74 per cent, Hindustan Zinc shares dipped 2.76 per cent, Hindalco Industries share nosedived 2.08 per cent, Tata Steel stock price went off 1.51 per cent while Steel Authority of India Ltd or SAIL shares went southward 1.68 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index crashed 1.17 per cent, South Korean Kospi dipped 0.65 per cent, Hong Kong's Hang Seng went down near 1 per cent while the Shanghai index nosedived 1.07 per cent.
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