Stock Market Closing Bell Today: Sensex, Nifty end in red zone on escalating China-India border standoff; Vodafone Idea, Tata Steel shares tank
Stock Market Closing Bell Today: On account of rising tension at India-China border, the Indian indices ended in the red zone after trading range-bound throughout the intraday trade session.
Stock Market Closing Bell Today: On account of rising tension at India-China border, the Indian indices ended in the red zone after the closing bell today. The BSE Sensex went off 51 points and closed at 38,365 levels while the 50-stocks NSE Nifty went down 37 points after closing at 11,317 levels. Bank Nifty dipped 200 points and closed at 22,744 levels.
Speaking on the Indian stock market; SEBI registered technical stock analyst Simi Bhaumik said, "NSE Nifty is now trading in a broader range of 11,250 to 11,450. Any further dip below 11,300 should be seen as a good buying opportunity because NSE Nifty has strong support at 11,250 mark." She said that pharma, IT, metal and auto stock will outperform other sectors in coming few trade sessions.
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Shares of Dixon Technologies, Birlasoft, V Mart Retail, KNR Constructions, Repco Home Finance, Indiabulls Housing Finance, Ashoka Buildcon, PNB Housing Finance and Hexaware Technologie were among the major gainers in the intraday trade session while share of Bharat Dynamics, Parag Milk Foods, Bharti Infratel, Vodafone Idea, Brigade Enterprises and PVR were among the leading losers after the closing bell today.
Telecom stocks led the bloodbath as BSE Telecom index crashed to the tune of 4.23 per cent. Telecom major vodafone Idea share price tanked 8.29 per cent, Bharti Infratel shares nosedived 8.23 per cent, shares of ITI dipped near 4 per cent, Bharti Airtel share went down 3.55 per cent, GTL Infrastructure stocks price went southward 3.90 per cent while Sterlite Technologies stocks went off 3.45 per cent after the closing bell today.
Metal stocks also remained under huge selloff pressure in the intraday trade session. Metal major Tata Steel share price tanked 4.46 per cent, Steel Authority of India Ltd or SAIL shares nosedived 4.83 per cent, National Aluminium Company or NALCO shares crashed 4.70 per cent, NMDC stock price dipped 4.23 per cent, Vedanta stocks went off 2.23 per cent while Jindal Steel & Power counter went southward 5.80 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index appreciated 0.80 per cent, South Korean Kospi went up 0.74 per cent, Hong Kong's Hang Seng added 0.14 per cent while Shanghai index surged 0.72 per cent.
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