Stock Market Opening Bell: NSE Nifty below 11,000, Sensex tanks 497 points, BAnk Nifty below 21K; Vodafone Idea, SAIL shares bleed
Stock Market Opening Bell Today: On account of weak global sentiments, the Indian indices witnessed heavy selloff in the opening bell today.
Stock Market Opening Bell Today: On account of weak global sentiments, the Indian indices crashed in the opening bell today. The BBSE Sensex tanked 497 points and hit 37,170 levels while the 50-stocks NSE Nifty crashed 142 points and touched 10,988 — below the psychological 11,000 level. Bank Nifty nosedived 228 points and hit 20,937 — below psychological 21,000 mark.
Speaking on the current market trends; SEBI registered technical stock analyst Simi Bhaumik said, "NSE Nifty has strong support at 10,900 to 11,000 levels. Once it makes a closing above 11,200, we can expect it to shot up around 11,650 to 11,700 mark. However, if it breaks 11,000 levels and sustains below this level for an hour, we can witness further downside trends in the markets."
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Shares of Centrum Capital, Bharti Infratel, WABCO India, Zensar Technologies adn Vedanta were among the few stocks that were in the green zone in the opening bell today while shares of Indian Overseas Bank, Adani Green Energy, Laurus Labs, Repco Home Finance, ICICI Securities, Vodafone Idea, Shriram Transport Finance, PNC Infratech and Jamna Auto Industries were among the leading losers in the opening bell trade session.
Telecom stocks continue to bleed after the Modi Government's disclosure of AGR dues on various telecom operators on Tuesday in the Rajya Sabha. Telecom major Reliance Communications share price crashed 4.59 per cent, Vodafone Idea shares nosedived 3.80 per cent, Bharti Airtel share went off 1.13 per cent, Mahanagar Telephone Nigam Ltd or MTNL stock price dipped 1.68 per cent while ITI stocks went down 2.49 per cent.
IT stocks also had to suffer the selloff pressure in the opening bell today. IT major Infosys share price crashed 2.48 per cent, Wipro shares dipped 2.35 per cent, TCS share went down 2.28 per cent, shares of Tanla Solutions nosedived 3.20 per cent, Sonata Software stocks went off 1.10 per cent, Sasken Technologies share price tanked 4.57 per cent while Ramco Systems conter went off 4.82 per cent.
Among the major Asian indices, the Japanese Nikkei 225 index crashed 0.65 per cent, South Korean Kospi nosedived 1.94 per cent, Hong Kong's Hang Seng tanked 1,87 per cent while the Shanghai index dipped 1.46 per cent in the opening bell today.
At Wall Street on Wednesday, Dow Jones crashed 1.92 per cent after closing at 26,763.13 levels, Nasdaq nosedived over 3 per cent and closed at 10,632.99 mark, Small Cap 2000 index tanked 2.60 per cent while S&P 500 went southward 2.37 per cent.
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