Stock Market: Sensex, Nifty trade tepid on rise in new Coronavirus cases; Yes Bank, Rolta India stocks gain
BSE Sensex went down 61 points to 41,504 levels, Nifty-50 index went off 17 points and hit 12,183 levels while the Bank Nifty index went down 68 points and hit 31,424 levels.
Stock Market News: On account of the rise in new Coronavirus cases in China, the Indian indices opened on the lower side in the Opening Bell trade session. The BSE Sensex went down 61 points to 41,504 levels, Nifty-50 index went off 17 points and hit 12,183 levels while the Bank Nifty index went down 68 points and hit 31,424 levels.
Speaking on the current rise in the Indian stock market Simi Bhaumik, a SEBI registered technical equity expert said, "If the market sustains above 12,200 levels then one should wait till further trends getting clear to them. Currently, Nifty has strong support at 12,050 but very heavy resistance at 122,250 and above levels. I would suggest share market investors avoid any kind of fresh position in the current market scenario."
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Shares of SBI, Yes Bank, Tata Motors, Reliance Industries, ICICI Bank, IRCTC, Indiabulls, Hindustan Uniliver were among the most trending stocks in the early morning trade session while HDFC Bank, Ashok Leyland, Housing Development Finance and Avanti Feeds stocks were among the most active stocks in the Opening Bell trade session.
Shares of Torrent Power, IFCI, Yes Bank, SBI, Pfizer, Sunteck Realty and KEI Industries were among the top gainers in the Opening Bell while Suzlon Energy, Dewan Housing Finance Limited or DHFL, Reliance Power, Reliance Capital and NBCC (India) stocks were among the top losers in the early morning trade session.
IT stocks received fresh buying and BSE IT soared 0.26 per cent in the early morning trade session. IT major Rolta India share price surged 2.19 per cent, Tata Elxsi shares rose 1.30 per cent, shares of TVS Electronics rose 2.91 per cent, Nelco stock price shot up 1.38 per cent while Infosys stock price rose to near 0.6 per cent.
Among the major Asian markets, the Japanese Nikkei wobble 0.12 per cent, South Korean Kospi scaled 0.43 per cent, Hang Seng dipped 0.31 per cent while Shanghai market shed 0.53 per cent in the early morning trade session.
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