Stock Market Closing Bell Today: Sensex, Nifty pare early morning gains; Vodafone Idea, Bank of Baroda shares dip
Stock Market Closing Bell Today: After making a high of 11,305 in the intraday tarde session, the Indian indices finally succumb to the profit-booking pressure and lost the opening bell gains.
Stock Market Closing Bell Today: After making a high of 11,305 in the intraday tarde session, the Indian indices finally succumb to the profit-booking pressure and lost the opening bell gains. The BSE Sensex that once made an intraday high of 38,235 closed at 37,992, around 11 points below its yesterday's close. NSE Nifty lost 5 points and closed at 11,222 mark. Bank Nifty shed 254 points after closing at 21,411 levels.
Speaking on the current stock market trends; Simi Bhaumik, a SEBI registtered technical stock analyst said, "Market is overall bullish till it is above 11,150. It is currently trading in the range of 11,150 to 11,350 and any dip in the markets should be seen as a buying opportunity." She said that pharma, IT and auto stocks will continue to dominate the upcoming rally at Dalal Street.
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Shares of KPR Mill, Raymond, Blue Dart Expres, Parag Milk Foods, Bliss GVS Pharma, Narayana Hrudayalaya, Hindalco Industries and Persistent Systems were among the leading gainers after the closing bell today while shares of Vodafone Idea, BHEL, Bank of Baroda, Alembic Pharmaceuticals, Punjab National Bank or PNB, Allcargo Logistics, GMR Infra and IndusInd Bank were among the major losers after the closing bell trade session.
Telecom stocks led the selloff as the BSE Telecom index crashed to the tune of 2.13 per cent after the closing bell today. Telecom major Vodafone Idea share price crashed 5.13 per cent, Reliance Communications share nosedived 4.81 per cent, Mahanagar Telephone Nigam Ltd or MTNL share went southward 2.77 per cent, Tata Communications stock price dipped 2.65 per cent while Bharti Airtel stocks went down 1.68 per cent.
Among the major Asian stock indices, the Japanese Nikkei 225 index added 0.12 per cent, South Korean Kospi soared 0.86 per cent, Hong Kong's Hang Seng dipped 0.85 per cent while Shanghai index went up 0.21 per cent.
At Wall Street yesterday, Dow Jones shot up 1.51 per cent, Nasdaq skyrocketed 1.87 per cent, Small Cap 2000 soared 2.67 per cent while S&P 500 jumped 1.61 per cent.
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