Sensex, Nifty pare Opening Bell losses; Vodafone Idea, TCS, Indiabulls Real Estate stocks gain
Stock Market: After bleeding near 390 points in the Opening Bell trade session on Iran strikes against the US forces, the Indian indices pared early morning losses after the Closing Bell. The BSE Sensex closed 51 points down at 40,817 levels while the Nifty-50 index closed at 12,025 levels — losing 27 points in the intraday trade. Bank Nifty index almost regained its lost ground by closing at 31,373 levels, which is a mere 25 points lower than its previous close.
Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Market is overall strong but due to the US-Iran strikes, the crude oil prices have started to escalated that led to crash in global bourses. Once, the US-Iran tension eases, markets will be again on the rally."
See Zee Business Live TV streaming below:
Shares of MMTC, Vodafone Idea, Orient Cement, Indiabulls Real Estate, Jindal Steel & Power, Adani Green Energy, KEI Industries were among the major gainers in the intraday trade while stocks of Suzlon Energy, Centrum Capital, Reliance Infrastructure, Reliance Capital, Vakrangee and Reliance Power were among the major losers in the intraday trade session.
Telecom stocks witnessed fresh buying as the BSE Telecom index rose 2.43 per cent in the intraday trade. Telecom major Vodafone Idea share price skyrocketed over 9 per cent, Mahanagar Telephone Nigam Ltd or MTNL shares shot up 3.14 per cent, shares of GTPL Hathway rose 5.98 per cent while Bharti Airtel stock price rose 2.74 per cent.
Tech stocks witnessed some fresh buying as the BSE Tech index rose over half per cent in the intraday trade session. Tech major Tata Consultancy Services or TCS share price rose 2.26 per cent, Oracle Financial Services Software shares added 2.98 per cent, Just Dial counter rose 2.67 per cent while MindTree stocks rose near half a per cent.
Among major Asian indices, the Japanese Nikkei 225 index closed 1.67 per cent down at 23,181.50 levels, Kospi went down 1.11 per cent, Hang Seng nosedived 0.96 per cent while the Shanghai index crashed 1.22 per cent.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.