Sensex nudge down, Nifty retains 11K levels; Vodafone Idea, Reliance Capital, Biocon stocks bleed
The BSE Sensex nudged 74 points down and closed at 37,328 levels while the 50-stock Nifty lost 36 points but retained the psychological 11,000 levels after closing at 11,017 levels.
Closing Bell: The stock market of India ended on a slightly lower side after trading tepid for the entire intraday trade session. The BSE Sensex nudged 74 points down and closed at 37,328 levels while the 50-stock Nifty lost 36 points but retained the psychological 11,000 levels after closing at 11,017 levels. The Bank Nifty index blinked below 28,000 levels after closing at 27,982 levels — losing 203 points in the intraday trade.
Speaking on the current market scenario Simi Bhaumik, a SEBI registered technical equity analyst said, "The market is range-bound and currently, the stock market of India is in the range of 11,000 to 11,250. So, any dips should be seen as a buying opportunity. If the market breaks the lower range and sustains below that level then we can witness further downside for next 100-150 points while on the upper side, if the market breaks the higher range and sustains above 11,300 levels, then we can expect some fresh buying for 11,500 levels."
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Force Motors, IDBI Bank, DHFL, Balrampur Chini and JK Tyre & Industries were the top gaining stocks in the intra day trade session while Vodafone Idea, Reliance Capital, Biocon, Reliance Communications, GIC Housing Finance and Yes Bank were the major losing stocks today.
Among Asian markets, the Japanese Nikkei 225 index rose 0.55 per cent, South Korean Kospi soar 1.05 per cent, Hang Seng dipped 0.23 per cent while Shanghai markets nudged down 0.11 per cent.