Stock Market: Sensex, Nifty nosedive on Coronavirus fears; Vodafone Idea, Adani Power, DLF stocks dip
Stock Market News: BSE Sensex went down below 41,000 by losing 137 points at 40,918 levels. The Nifty index also lost 12K support and went down 60 points to 11,985 levels. Bank Nifty shed 156 points and hit 30,524 levels.
Stock Market News: On account of Coronaviris hitting the global indices, the Indian indices too got hit in the opening bell trade session on Tuesday. The BSE Sensex went down below 41,000 by losing 137 points at 40,918 levels. The Nifty index also lost 12K support and went down 60 points to 11,985 levels. Bank Nifty shed 156 points and hit 30,524 levels.
Speaking on the current market scenario Prakash Pandey, CEO & MD at Plutus Advisors said, "The market has got strong support at 11,900. Any further dip to these levels should be seen as an opportunity to buy rather getting panic by the selloff."
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SBI, Tata Motors, Tata Steel, Reliance Industries, ICICI Bank, Muthoot Finance, LIC Housing Finance, Yes Bank, Bharti Airtel and IndusInd Bank shares were among the most trending stocks in the early morning trade session while Tata Chemicals, Avenue Supermarts and Indiabulls were among the most active stocks in the intraday trade session.
Shares of Vodafone Idea, Adani Power, DLF, Hexaware Technologie, Dr. Reddy's Labs, Hero MotoCorp, Jindal Steel & Power, NMDC, Tech Mahindra, Dr. Lal Pathlabs and Hindustan Aeronautics were among the major losing stocks in the early morning trade session while shares of Dewan Housing Finance Limited or DHFL, Fortis Healthcare, MindTree, Thyrocare Tech and Castrol India were among the major gainers in the intraday trade session.
Metal stocks led the bloodbath at Dalal Street as the BSE Metal index crashed to the tune of 1.63 per cent. Metal major Tata Steel share price crashed 1.81 per cent, Steel Authority of India Ltd or SAIL share price nosedived 1.87 per cent, shares of Vedanta dipped 2.11 per cent, Jindal Steel & Power stock price went down 1.92 per cent, Hindalco Industries stocks went southward 1.55 per cent while Hindustan Zinc counter went down 1.22 per cent.
Among the major Asian indices, the South Korean Kospi crashed 1.31 per cent, Japanese Nikkei nosedived 1.52 per cent, Hang Seng went off 1.45 per cent while Shanghai market went down 0.39 per cent in the opening bell trade session.
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