Stock Market Live: Sensex, Nifty bleed on dent to US-China trade talks; Vedanta, Nalco, Ashoka Buildcon stock gains

Indian stocks slipped on Thursday after cautious comments from US Trade Representative Robert Lighthizer dented some of the recent optimism toward Sino-US trade relations. The BSE Sensex lost 37 points to 35,867 after making a high of 36,085 levels while the 50-scrip Nifty went off by 14 points to 10,792 levels. IT and tech stocks lead the blood march at Dalal Street. The BSE IT index bleed over 1 per cent on Thursday. The index major Brightcom Group Ltd went off by around 3.9 per cent, Xchanging Solutions Ltd corrected to the tune of around 5.6 per cent, TCS counter was down by near 3.4 per cent.

Yet again the index Nifty turned around from the placement of 200 DSMA. Also on the upside, 10915 is the 61.8% Fibonacci retracement level of the previous move which acted as an intermediate resistance in the recent session. Due to the ongoing geopolitical issues, we expect the index to trade with positive bias within the range of 10580 - 11000. Any move on either side of the range shall now dictate the further trend. Traders who initiated long in index futures should follow strict stop of 10700 for the upside target of 11000 and above.

"On the downside 10720 – 10640 zone might again attract some buying interest. In addition, the weekly chart of NIFTY MIDCAP 100 index construes that it has found support exactly at 200 Weeks SMA which indicates a sharp bounce in broad market stocks," informs IndiaNivesh research team.

See Zee Business Live TV screaming below:

3:35 PM

Closing bell: Sensex, Nifty turn red on dent to Us-China trade talks

The BSE IT index bleed over 1 per cent on Thursday. The index major Brightcom Group Ltd went off by around 3.9 per cent, Xchanging Solutions Ltd corrected to the tune of around 5.6 per cent, TCS counter was down by near 3.4 per cent.

3:20 PM

2:45 PM

Infra sector pulls Sensex, Nifty in green zone

The BSE Infra index added over 1.25 per cent from its previous close on Thursday. The index major Ashoka Buildcon Ltd counter added around 3.8 per cent, Aban Offshore stocks were up by 1.4 per cent, GAIL added more than 2 per cent, Gujarat Pipavav Port Ltd shares surge by more than 6 per cent, Mahanagar Telephone Nigam counter went up by more than 4.5 per cent, NHPC shares went northward by around 3.9 per cent, NTPC counter added near 2 per cent, Power Grid stkcks added near 1 per cent, Spicejeet too added near 1.1 per cent while Tata Communications Ltd shares went up by near 2.9 per cent.

12:40 PM

Selling in IT, tech stock pulls markets down

On account of the heavy selloff in IT and tech stocks, the Indian indices lost its early gains. The BSE Sensex was down by 7 points at 35,898 after making a high of 36,085 in early morning trade. The 50-stock Nifty went down by 5 points to 10,800 levels. IT major Genesys International Corporation Ltd corrected over 3 per cent from its Wednesday close while RComm and TCS counter went down over 2 per cent from its previous close.

12:00 PM

Sensex undergoes profit booking again

On account of heavy buying in telecom, consumer durables, metal and auto stocks, the Indian indices have gone northward in early morning trade on Thursday. However, the Indian indices soon witnessed profit booking. The BSE Sensex lost the psychological 36,000 levels but remain above 51 points from the Wednesday close. The 50-stock Nifty index rose 13 points to 10,834 levels, below the current resistance at 10,835 levels.

10:40 AM

Bulls pull Sensex above 36,000 levels

On account of heavy buying in telecom, consumer durables, metal and auto stocks, the Indian indices have gone northward in early morning trade on Thursday. The BSE Sensex regain the psychological 36,000 levels by logging 115 points gain to 36,021 levels. The 50-stock Nifty index rose 28 points to 10,834 levels, below the current resistance at 10,850 levels.

9:40 AM

Sensex, Nifty pare early gains

On account of heavy buying in telecom, consumer durables, metal and auto stocks, the Indian indices have gone northward in early morning trade on Thursday. But, soon after 15 minutes of trade, the Indian indices witnessed profit booking that led to the BSE Sensex lose the psychological 36,000 levels. The BSE Sensex rose 58 points gain to 35,964 levels. The 50-stock Nifty index rose 12 points to 10,818 levels, below the current resistance at 10,850 levels.

9:20 AM

Opening bell: Sensex regains 36,000 levels, Nifty below 10,850 levels

On account of heavy buying in telecom, consumer durables, metal and auto stocks, the Indian indices have gone northward in early morning trade on Thursday. The BSE Sensex regain the psychological 36,000 levels by logging 171 points gain to 36,074 levels. The 50-stock Nifty index rose 38 points to 10,844 levels, below the current resistance at 10,850 levels.

9:12 AM

Senex regain 36,000 levels in pre-open session

On account of Indo-Pak tension further escalating and the global stocks already trading down, the Indian indices are expected to trade tepid on Thursday. In the pre-open session, the BSE Sensex has gained 120 points to 36,025 levels. 

9:04 AM

Markets up in pre-open session, Sensex rises 30 points

On account of Indo-Pak tension further escalating and the global stocks already trading down, the Indian indices are expected to trade tepid on Thursday. In the pre-open session, the BSE Sensex has gained 30 points to 35,936 levels. Earlier, the BSE Sensex had lost 68 points on Wednesday while the 50-stock  Nifty went down by 28 points. However, Broad market indices like the BSE Mid Cap and Small Cap indices gained, thereby outperforming the Sensex and Nifty.

9:00 AM

Asian stocks slip as trade optimism retreats, dollar holds gains

Asian stocks slipped on Thursday after cautious comments from U.S. Trade Representative Robert Lighthizer dented some of the recent optimism towards Sino-U.S. trade relations, while the dollar held gains, supported by higher bond yields.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent.

Australian stocks fell 0.1 per cent, South Korea's KOSPI shed 0.5 per cent and Japan's Nikkei lost 0.5 per cent.