Stock Market: On account of weak global sentiments, the Indian indices ended in the red zone after losing more than 2 per cent in the intraday trade session. The BSE Sensex lost 692 points and closed at 33,554 levels while the NSE Nifty dipped 214 points and closed at 9,902 levels. Bank Nifty crashed 574 points and closed at 20,525 levels.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Speaking on the current market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "Nifty has breached its support of 9,950 and now we can witness further donward trend up to 9,800 levels. My advice to the traders is to keep an eye on Wall Street as it's global triggers that is driving Indian indices."

Giving broad view about the Indian share market Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The key lower support of 10,000 (support as per weekly and monthly chart as per the concept of change in polarity) has been broken down in this week, after sustaining above it in last week. Hence, more weakness could be expected in coming sessions. The next lower levels to be watched around 9600, which is an opening upside gap of previous week and this could be achieved in the next 3-4 sessions. Any attempt of upside bounce is likely find key overhead resistance around 10,000-10,050 levels (as per role reversal)."

See Zee Business Live TV streaming below:

Shares of SBI, Reliance Industries, Axis Bank, HDFC Bank, ICICI Bank, Tata Motors, Housing Development Finance, IndusInd Bank, Indian Oil and Tata Steel were among the most trending stocks in the intraday trade session while shares of Bajaj Finance, Vodafone Idea, Bharti Airtel and RBL Bank were among the most active stocks in the intraday trade session.

Shares of Shankara Building Projects, Vakrangee, IndusInd Bank, SREI Infrastructure, Future Retail, Lemon Tree Hotels, Magma Fincorp, Future Consumer and Mahanagar Gas wqere among the top gainers while shares of Aavas Financiers, Engineers India, KRBL, Bharti Infratel, Sun Pharma Indiabulls Real Estate and Tech Mahindra were among the major losers in the intraday trade session.

Shares of State Bank of India or SBI plunged 5.5 per cent, followed by Bank of Baroda, ICICI Bank, Punjab National Bank (PNB) and Axis Bank. The SC's comments against the department of telecommunications (DoT) demanding dues from public-sector firms may not bode well for recovery by banks exposed to telephone companies.

Among the major Asian indices, the Japanese Nikkei 225 index crashed 2.82 per cent, South Korean Kospi dipped 0.86 per cent, Hong Kong's Hang Seng nosedived 2.27 per cent while Shanghai index went off 0.78 per cent.